Anhui Tongguan Copper Foil Co., Ltd. announced that it has entered into an agreement to issue common shares for gross proceeds of not less than CNY 6,795,000 on March 5, 2020. The transaction included participation from new investor Guoxuan High-Tech Co., Ltd. (SZSE:002074) for 3.50% stake in the company. The investor will also transfer 11.25% stake of Hefei Tongguan Guoxuan Copper Products Co., Ltd. as consideration for the transaction. Out of total capital raised, CNY 21,761,658 will go to registered capital of the company and remaining CNY 81,108,342 will go to capital reserve. The registered capital of the company will increase from CNY 600,000,000 to CNY 621,761,658. The transaction has been approved by board of directors of Tongling Nonferrous Metals Group Co.,Ltd. (SZSE : 000630) in its 19th meeting of 8th directorate.