Jinggangshan Aoxin Huafu Seeds Co., Ltd. announced a private placement of 18,749,765.63 common shares at a price of CNY 2.6667 for gross proceeds CNY 50,000,000 in an equity round of funding on January 12, 2018. The transaction will include participation from Fujian Aonong Biological Technology Group Incorporation Limited (SHSE:603363). Post transaction, the investor will retain 80% stake in the company. The registered capital of the company will increase to CNY 48,750,000. The transaction was approved at the 25th session of the 4th directorate meeting of the investor and pursuant to approval of its shareholder’s.