Turpan Hengtong Luxwood New Building Materials Co., Ltd. announced a private placement for gross proceeds of CNY 20,000,000 on January 5, 2018. The transaction will include participation from existing investor Beijing Hengtong Innovation Luxwood Technology Co.,Ltd (SZSE:300374). Post the closing, the registered capital of the company will increase from CNY 10,000,000 to CNY 30,000,000. The transaction has been approved at the 45th meeting of investors' 2nd directorate and 24th meeting of the 2nd supervisory board and is subject to shareholders' approval.