Qingdao Hengning Biotechnology Co., Ltd. announced that it will receive CNY 20,000,000 in an equity round of funding on October 28, 2019. The transaction will include participation from returning investor Hailir Pesticides and Chemicals Group Co.,Ltd. (SHSE:603639). Post to the transaction, the investor will hold 100% stake in the company and the registered capital will increase from CNY 96,660,000 to CNY 116,660,000. The transaction has been approved in the 33rd meeting of the third directorate of the investor and does not need approval of the shareholders.