Jiangxi Fynex Textiles Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 54,000,000 on April 19, 2019. The transaction will involve participation from returning investor Fujian Fynex Textile Science & Technology Co., Ltd. (SHSE:600493). Post the closing of the transaction, the registered capital will increase from CNY 81,000,000 to CNY 135,000,000 and the investor will hold a stake of 97% in the company. The transaction has been approved by the investor in the 15th meeting of its 6th directorate, 14th meeting of its 6th supervisory board, and further does not need approval from its shareholders meeting.