Huiyin Smart Community Co., Ltd. (SEHK:1280) announced that it has entered into subscription agreements for a private placement of 480,000,000 common shares at a price of HKD 0.5 per share for gross proceeds of HKD 480,000,000 on January 3, 2018. The transaction will include participation from Yu Chao, Liu Zhaojie, Zhang Shunli, Li Min will be issue 100,000,000 shares each respectively and Sun Xuming will be issue 80,000,000 shares. The shares issued will represent 23.32% of the existing issued share capital of the company as at the date of this announcement and approximately 18.91% of the issued share capital of the company as enlarged by the allotment and issue of the subscription shares. The transaction is subject to shareholders’ approval. The securities to be issued are subject to a hold period of six months. The company will receive net proceeds of HKD 239,200,000.