Xiamen Jikeyin E-Commerce Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 40,000,000 on December 29, 2017. The transaction will involve participation from returning investor Xiamen Jihong Package Technology Ltd. (SZSE:002803). Post the closing of the transaction, the registered capital of the company will increase from CNY 10,000,000 to CNY 50,000,000 and the investor's stake will increase from 65% to 93%. The transaction was approved by the investor in the 16th session of its 3rd directorate meeting.