Kunshan Meihongye Metal Products Co., Ltd. announced that it has entered into capital increase agreement to receive CNY 114,324,300 in an equity round of funding on September 26, 2019. The transaction will include participation from new investors Beijing Sinnet Technology Co., Ltd (SZSE:300383) for CNY 39,729,700 and Jin Fushen for CNY 74,594,600. Out of the total proceeds, CNY 67,826,200 will go into registered capital and CNY 46,498,100 will go into capital reserve of the company. The transaction has been approved in the 5th meeting of the 4th directorate of Beijing Sinnet Technology Co., Ltd (SZSE:300383), and is not subject to approval from its shareholders. The registered capital of the company will increase from CNY 124,588,809.33 to CNY 192,415,000.