Shanghai Yunda Freight Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 1,500,000,000 from existing investor Yunda Holding Co., Ltd. (SZSE:002120) on September 28, 2018. The company announced that CNY 1,466,337,522 of the proceeds will go into capital reserve and CNY 33,662,478 of the proceeds will go into registered capital. The transaction was approved by the investor’s directors in the 28th meeting of the 6th directorate. The company has reported total assets of CNY 8,364,251,500, total liabilities of CNY 3,908,317,900, net assets of CNY 4,455,933,700, operating revenue of CNY 9,357,615,100, and net profit of CNY 1,521,625,300 for the year ended December 31, 2017.