Beijing Machinery Science and Technology Guochuang Lightweight Science Academy Co Ltd announced a private placement of shares of gross proceeds of not more than CNY 240,000,000 on January 13, 2018. The transaction will involve participation from not less than 5 external investors. Hefei Metalforming Intelligent Manufacturing Co., Ltd. (SHSE:603011) is participating as an investor for the proceeds of CNY 30,000,000 to obtain 9.1% stake in the company post the closing of the transaction. The transaction will also involve participation from China Academy of Machinery Science and Technology and its subsidiary enterprises for the proceeds of CNY 80,000,000. Out of total proceeds raised CNY 160,000,000 will be added as registered capital and the rest will be added as capital reserve. The transaction has been approved in the 3rd directorate’s 10th meeting of Hefei Metalforming Intelligent Manufacturing Co., Ltd. (SHSE:603011).