Shanghai Guangyu Investment Center (Limited Partnership) announced that it will receive funding on July 16, 2016. The transaction will include participation from a subsidiary of Shanghai Jiabao Industry & Commerce (Group) Co., Ltd. (SHSE:600622). The transaction has been approved in the 21st session of the 8th directorate of Shanghai Jiabao Industry & Commerce (Group) Co., Ltd. (SHSE:600622). The transaction is subject to approval from shareholders of Shanghai Jiabao Industry & Commerce (Group) Co., Ltd. (SHSE:600622) in 1st special shareholders’ meeting of 2016 to be held on August 1, 2016. On August 1, 2016, the company announced that the transaction has been approved at 1st special shareholders' meeting of 2016 of Shanghai Jiabao Industry & Commerce (Group) Co.,Ltd.