Hangzhou Mingqi Electric Appliance Co., Ltd announced a private placement of shares of gross proceeds of CNY 719,230,000 with returning investor Hangzhou Robam Appliances Co., Ltd. (SZSE:002508) on January 11, 2018. Post the transaction, the investor will retain its 100% stake in the company and the registered capital of the company will increase from CNY 50,000,000 to CNY 769,230,000.