XCMG Fire Safety Equipment Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 287.61 million with existing investor XCMG Construction Machinery Co., Ltd. (SZSE:000425) on November 27, 2018. The transaction was approved by the board of directors of the investor at the 19th meeting of the 8th directorate. Post the closing, the investor will maintain 100% stake in the company. The company reported total assets of CNY 1,047,607,200, total liabilities of CNY 826,873,500, net assets of CNY 220,733,700, operating revenue of CNY 830,444,400, total profit of CNY 14,355,200, and net profit of CNY 12,861,700 for the year ended December 31, 2017.