Shaanxi Lantai Aviation Equipment Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 20 million on December 20, 2020. The transaction will include participation from returning investor Beijing Bei Mo Gao Ke Friction Materials Co., Ltd (SZSE:002985). The transaction has been approved by the 11th meeting of the second board of directors and is subject to approval from shareholders’ general meeting of investor. Post the closing of capital increase and equity transfer transactions, the investor will hold 66.67% stake in the company.