Ningxia Shengyang New Energy Co., Ltd. announced that it will receive CNY 285 million in funding on March 27, 2013. The company will issue equity securities in the transaction. The transaction will include sole participation from new investor, Beijing Jingyuntong Technology Co., Ltd. The transaction is expected to close after the investor will acquire 100% stake in the company.

Following the closing, the registered capital of the company will increase to CNY 300 million.