Beijing Boss Zhixin Internet Technology Co., Ltd. announced a private placement of 7,000,000 common shares at CNY 1 per share for gross proceeds of CNY 7,000,000 on January 10, 2017. The transaction will include participation from returning investor, Fujian Boss Software Development Co., Ltd. (SZSE:300525) for CNY 3,570,000 to retain its 51% stake in the company and new investors, Boss Zhixin (Pingtan) Equity Investment Partnership Enterprise (Limited Partnership), Liu Shaohua for CNY 1,300,000 to acquire 13% stake in the company, Bai Rui for CNY 300,000 to acquire 3% stake in the company, Li Xianfeng for CNY 300,000 to acquire 3% stake in the company, Zha Daopeng for CNY 300,000 to acquire 3% stake in the company, Ke Bingjun for CNY 300,000 to acquire 3% stake in the company, Hou Xiangqin for CNY 300,000 to acquire 3% stake in the company, and Li Zhiguo for CNY 200,000 to acquire 2% stake in the company. Upon completion of the merger and acquisition and capital increase transaction, Boss Zhixin (Pingtan) Equity Investment Partnership Enterprise (Limited Partnership) will hold 16% stake in the company for investment of CNY 1,600,000. The company will issue shares at par. The registered capital of the company will increase from CNY 3,000,000 to CNY 10,000,000. The transaction has been approved by the board of directors of the Fujian Boss Software Development Co., Ltd. (SZSE:300525) at its 10th session of its 2nd directorate and supervisory board of directors of the Fujian Boss Software Development Co., Ltd. (SZSE:300525) at its 7th session of its 2nd supervisory board. The company has reported total assets of CNY 2,742,100, total liabilities of CNY 1,650,400, net assets of CNY 1,091,800, revenue of CNY 1,665,500, and net loss of CNY 1,908,200 for the year ended December 31, 2016.