Shanghai Qinghe Machinery Co., Ltd. announced a private placement of CNY 12,000,000 in an equity round of funding from existing investor, Lanzhou Haimo Technologies Co., Ltd. (SZSE:300084) on August 26, 2016. As part of the transaction, the investor will invest for 24% increased stake to retain its 100% stake in the company. On closing, the registered capital of the company will increase from CNY 38,000,000 to CNY 50,000,000. The transaction was approved in the 17th session of the 5th directorate meeting of the investor. The company reported total assets of CNY 361,787,409.17, total liabilities of CNY 151,331,697.72, net assets of CNY 210,455,711.45, revenues of CNY 228,039,162.58, total profit of CNY 64,204,827.8 and net profit of CNY 55,326,227.44 for the financial year ended December 31, 2015.