Hong Kong HuiHua Global Technology Ltd. announced that it will receive $90,000,000 in its equity round of funding from existing investor, Beijing Oil HBP Group on August 20, 2014. The investor will continue to hold 100% stake in the company upon closing. The registered capital of the company will increase from $33,500,000 to $123,500,000 upon closing.

The transaction has been approved at 2014 4th session of its 2nd directorate of the investor. The transaction is subject to the approval of the National Development and Reform Commission and other relevant departments. The company reported total assets of CNY 223,586,028.97 ($36,344,800), net assets of CNY 155,659,310.87 ($25,303,100), revenues of CNY 4,860,741.01 ($790,133), operating loss of CNY 43,401,664.73 ($7,055,120), and net profit of CNY 23,353,698.92 ($3,796,240) for the year ending December 31, 2013.

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