Hong Kong Humon International Logistics Limited announced a private placement of common shares for gross proceeds of $70,000,000 on December 16, 2020. The transaction will include participation from returning investor Shandong Humon Smelting Co., Ltd. (SZSE:002237) to retain its 100% stake in the company. The transaction has been approved in the 2020 Fifth Extraordinary Meeting of the Ninth Board of Directors and the Fifth Extraordinary Meeting of the Ninth Board of Supervisors in 2020 of the investor. The transaction is subject to approval in the shareholders meeting. Post the transaction, the registered capital of the company will increase from $6,450,000 to $76,450,000.