Northwestern Polytechnical University Ming De College announced a private placement of common shares for gross proceeds of CNY 3,453,700 on January 11, 2018. The transaction will include participation from existing investor Shaanxi Jinye Science Technology and Education Group Co.,Ltd (SZSE:000812). Post the closing, the investor will maintain 100% stake in the company. The transaction was approved by the board of directors at the 1st session of its 6th directorate meeting and needs approval of shareholders of the investor.