Baoji Hangzhou Fork Engineering Machinery Co., Ltd. announced that it will receive CNY 80,160,500 in a round of equity funding on April 19, 2017. The round will include participation from existing investors Hangcha Group Co., Ltd. (SHSE:603298) and other investors for CNY 56,000,000 and CNY 24,160,500 respectively. Post the closing, the investors will maintain their existing stakes in the company, including 69.86% to be held by Hangcha Group Co., Ltd. (SHSE:603298) for a total of CNY 70,000,000 of the registered capital of the company . The period of subscription will be for 30 years. The transaction has been approved at the 5th session of the 5th directorate of Hangcha Group Co., Ltd. (SHSE:603298). The company reported total assets of CNY 43,081,195.13, total liabilities of CNY 15,989,511.2, owner's equity of CNY 27,091,683.93, revenue of CNY 31,418,901.09, total profit of CNY 1,385,168.36, and net profit of CNY 1,132,614.06 for the year ended December 31, 2016.