Beijing Zhongshui Runda Hydraulic Works Corporation announced that it will receive CNY 5,750,000 in an equity round of funding on September 27, 2016. The company has signed a capital increase agreement with a new investor, Beijing Originwater Technology Co., Ltd. (SZSE:300070). As part of the transaction, the investor will acquire 51.428841% stake in the company. Out of the total proceeds, CNY 4,362,400 shall be added to the registered capital and CNY 1,387,600 shall be added to capital reserve. The registered capital of the company will increase from CNY 4,120,000 to CNY 8,482,400. Upon closing, the stake of China Coal Geology Engineering Corporation will dilute from 70% to 34%. As part of the transaction, the investor will appoint two directors. This transaction does not need to be submitted for review in the directorate and shareholders’ meeting. The company reported total assets of CNY 13,365,900, total liabilities of CNY 8,393,700, net assets of CNY 4,972,200, zero operating revenues, and net loss of CNY 954,900 for the year ended December 31, 2015.