Shanghai Jiacui Biotechnology Co., Ltd. announced that it will receive CNY 3,000,000 in an equity round of funding on August 24, 2018. The company has signed a capital increase agreement with the investors. The transaction will include participation from returning investor, Huabao Flavours & Fragrances Co., Ltd. (SZSE:300741) and new investor, Zheng Zhigang for CNY 1,500,000 each. Post the closing, the investors will hold 85% and 15% stake respectively. Post the closing, the registered capital of the company will increase from CNY 7,000,000 to CNY 10,000,000. The transaction has been approved at the 18th meeting of the first board of directors of the Huabao Flavours & Fragrances Co., Ltd. (SZSE:300741) and is not subject to approval from its shareholder's.