Beijing VATS Vintage E-business Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 60 million on November 8, 2019. The transaction will include participation from existing investor VATS Liquor Chain Store Management Joint Stock Co., Ltd. Post the transaction the registered capital of the company will increase from CNY 20 million to CNY 80 million. The transaction has been approved in the fifth meeting of the fourth board of directors and the fourth meeting of the fourth board of supervisors of the the investor, VATS Liquor Chain Store Management Joint Stock Co., Ltd.