Sanhe Yanfeng High-tech Industrial Park Co., Ltd announced that it will sign capital increase agreement to receive not more than CNY 1,072,500,000 in an equity round of funding on March 6, 2019. The transaction will include participation from new investor Beijing Sinnet Technology Co., Ltd (SZSE:300383). Post closing the transaction, the investor will acquire 65% stake in the company. The transaction was approved by the board of directors of the investor in its 3rd directorate’s 1st meeting. The transaction does not need approval from the shareholders.