Tinci (HK) Limited announced a private placement of shares of gross proceeds of HKD 10,990,000 with returning investor Guangzhou Tinci Materials Technology Co., Ltd. (SZSE:002709) on January 13, 2018. Post the closing the registered capital of the company will increase from HKD 10,000 to HKD 11,000,000. The transaction has been approved in the 10th meeting of the investor's 4th directorate and is not subject to its shareholder's approval.