Guangzhou Pearl River Kayserburg Piano Co., Ltd. announced that it will receive CNY 63,530,000 in an equity round of funding from existing investor Guangzhou Pearl River Piano Group Co.,Ltd. on September 16, 2014. The investor will continue to hold 100% stake in the company. The registered capital of the company will increase from CNY 364,000,000 to CNY 427,530,000 upon completion of the transaction. The company reported total assets of CNY 462,830,566.99, total liabilities of CNY 89,970,897.98, net assets of CNY 372,859,669.01, revenue of CNY 122,283,705.98, and net profit of CNY 10,509,467.01 for the year ended December 31, 2013.

On September 26, 2014, the transaction was approved at the 38th meeting of the 2nd directorate of the investor.