Kashgar Hengtong Luxwood New Building Materials Co., Ltd. announced a private placement of shares for gross proceeds of CNY 20,000,000 on January 5, 2018. The transaction will include participation from existing investor Beijing Hengtong Innovation Luxwood Technology Co.,Ltd (SZSE:300374). Post the closing, the registered capital will increase from CNY 10,000,000 to CNY 30,000,000. The transaction has been approved in the 45th meeting of the company’s 2nd directorate and 24th meeting of the 2nd supervisory board. The transaction is subject to the shareholders’ approval.