Dongguan Dongfeng Technology Development Co., Ltd. announced a private placement for gross proceeds of CNY 100 million on March 13, 2019. The transaction will include participation from returning investor Dongfeng Sci-Tech Group Co., Ltd. (SZSE:200160). Post the closing of the transaction, the registered capital of the company will increase from CNY 100 million to CNY 200 million, the investor will retain its 100% stake in the company. The transaction has been reviewed and approved during the company’s 10th session of the 7th directorate meeting on March 13, 2019. The company does not require approval at the investor shareholder's meeting.