Zhejiang Hengyi Petrochemicals Co., Ltd. announced that it will receive CNY 968,500,000 in equity funding from existing investor Hengyi Petrochemical Co., Ltd. (SZSE:000703) on November 17, 2016. As a part of the transaction, CNY 200,000,000 will be added to registered capital of the company. The company’s registered capital will increase from CNY 2,800,000,000 to CNY 3,000,000,000. The transaction has been approved at 31st meeting of 9th directorate of the investor and does not need its shareholders’ approval. Pursuant to the transaction, the investor shall hold 99.72% stake in the company. The company reported total assets of $25,208,320,000 (CNY 163,572,000,000), total liabilities of $17,021,990,000 (CNY 110,453,000,000), net assets of $8,186,330,000 (CNY 53,119,600,000), revenue of $30,317,710,000 (CNY 196,726,000,000), operating profit of $172,660,000 (CNY 1,120,360,000), and net profit of $167,900,000 (CNY 1,089,470,000) for the year ended December 31, 2015. The conversion has been done through www.oanda.com as on December 31, 2015.