Shanghai Kaining Import & Export Corp. announced that it will receive CNY 88,438,770 in a round of equity funding on May 15, 2017. The transaction will include participation from new investor China Hi-Tech Group Co., Ltd. (SHSE:600730) for CNY 64,345,100; representing CNY 27,000,000 of the registered capital for a stake of 53.43%, existing investors KAMA Co.,Ltd. (SHSE:900953) for CNY 19,780,160; representing CNY 1,810,000 of the registered capital, and Jiang Zhengyuan for CNY 4,313,505; representing CNY 1,810,000 of the registered capital.

Post the closing, the stake of KAMA Co.,Ltd. (SHSE:900953) will be reduced to 36.22% from 74.52%; representing a total of CNY 18,300,000 registered capital and the stake of Jiang Zhengyuan will be reduced to 5.72% from 8.09%; representing a total of CNY 2,895,720 registered capital. The transaction has been approved at the 23rd session of the 6th of KAMA Co.,Ltd. (SHSE:900953) and does not require the approval from its stockholders. The company reported total assets of CNY 119,003,500, total liabilities of CNY 100,441,500, and net assets of CNY 18,561,900 for the year ended December 31, 2016.