Hangzhou Xiyu Enterprise Management Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 173.55 million on June 23, 2020. The transaction will include participation from returning investors Cosmos Group Co., Ltd. (SZSE:002133) for CNY 163.95 million and Zhoushan Xinyu Equity Investment Partnership for CNY 9.6 million. As a result, the registered capital of the target company will increase from CNY 1 million to CNY 174.55 million and will continue to operate as a subsidiary of Cosmos Group. The transaction has been approved at the 16th meeting of the 6th directorate of the investor.