Hunan Newsmy Navigation and Positioning Technology Co., Ltd. announced that it will receive CNY 25,000,000 in an equity round of funding from new investor on January 21, 2016. Of the amount to be received, CNY 625,000 will be added to its registered capital and remaining will be added to its capital reserve. As part of the round, the investor will acquire 17.241% stake in the company.

The transaction was approved at 28th meeting of the 3rd board of directors and the 23rd meeting of the 3rd supervisory board of the investor. The transaction is subject to shareholders' approval of the investor.