Hubei Xingfa Chemicals Group Co., Ltd. (SHSE:600141) announced a private placement on January 3, 2019. The company will issue class A common shares at a price of CNY 9.71 per share. The transaction has been approved in the 7th session of the 9th directorate meeting of the company. The transaction is subject to approval from another directorate meeting, shareholders meeting, and China Securities Regulatory Commission. The transaction will include participation from not more than 10 qualified investors.