Hubei Tianzhiyuan Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 80 million on September 28, 2020. The transaction will include participation from returning investor Guangdong Tengen Industrial Group Co.,Ltd. (SZSE:003003). Post-closing of the transaction, registered capital of the company will increase from CNY 20 million to CNY 100 million. The investor will retain its 100% stake in the company. The transaction has been approved at the 17th meeting of the second board of directors and the 10th meeting of the second board of Guangdong Tengen Industrial Group Co.,Ltd. (SZSE:003003), investor parent of the company.