NetPosa (Suzhou) Intelligent Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 35,000,000 on January 21, 2019. The transaction will include participation from the returning investor NetPosa Technologies, Ltd. (SZSE:300367). As part of the transaction, CNY 7,000,000 will go into registered capital and CNY 28,000,000 will go into capital reserve. Post completion of the transaction, the investor will retain 100% stake in the company. The registered capital of the company will increase from CNY 245,000,000 to CNY 252,000,000. The transaction was approved by the board of directors of the investor in its 47th meeting of the 3rd directorate. There is no need for approval from the investor's shareholders.