Shuanghuan Driveline (Jiaxing) Precise Manufacturing Co., Ltd announced a private placement of common shares for gross proceeds of CNY 294,233,600 on January 22, 2018. The transaction will involve participation from existing investor Zhejiang Shuanghuan Driveline Co., Ltd. (SZSE:002472). Post the closing of the transaction, the investor will continue to retain its 100% stake in the company. The transaction has been approved by the investor at the 26th session of its 4th directorate. The registered capital of the company will increase from CNY 158,000,000 to CNY 452,233,600 upon closing.