Chongqing Luneng Development (Group) Co., Ltd. announced that it will receive CNY 600,000,000 in an equity round of funding on January 28, 2021. The transaction will include participation from returning investor Tianjin Guangyu Development Co., Ltd. and will retain its 100% stake in the company. Post the closing of the transaction, the registered capital of the company will increase from CNY 1,000,000,000 to CNY 1,600,000,000. The transaction has been approved by the investor in it's 3rd meeting of the10th directorate and does not need the shareholder's approval.