Laimu Electronics (Jiangsu) Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 15 million on August 13, 2020. The transaction will include participation from returning investor Shanghai Laimu Electronics Co.,Ltd (SHSE:603633). The transaction is within the scope of the decision of the board of director and needs to be approved by the administrative department for industry and commerce. Upon completion, target's registered capital will increase to CNY 30 million.