CTS International Logistics (H.K.) Co., Limited announced that it will raise $40,000,000 (CNY 251,145,000) of funding from returning investor CTS International Logistics Corporation Limited (SHSE:603128) on April 17, 2018. Post the closing, the investor will continue to hold 100% stake in the company. The transaction was approved by the investor’s 3rd directorate in its 16th meeting and does not need approval from the investor’s shareholders. The transaction is subject to filing record approval procedures from the National Development and Reform Commission, the Ministry of Commerce, and foreign exchange registration. The company reported total assets of CNY 456,038,395.19, net assets of CNY 64,256,986.53, and net income of CNY 12,143,952.87 for the year ended December 31, 2017.