Zhejiang Dafeng Building Decoration Engineering Co., Ltd announced a private placement of common shares for gross proceeds of CNY 60,000,000 on April 26, 2019. The transaction will include participation from existing investor Zhejiang Dafeng Industrial Co., Ltd. Post the closing, the investors will maintain 100% stake in the company. The transaction was approved by the board of directors of the investor at the 18th meeting of the 2nd directorate.