Zhejiang Huatie Emergency Equipment Science & Technology Co., Ltd. announced that it plans to raise no more than RMB600 million (USD91.68 million) via private placement at a price of RMB6.85 (USD1.05) per share to Dahuangfeng Holding Co., Ltd., which was controlled by Hu Danfeng. The funds after deducting the issuance expenses will be used for complementing the company's working capital.