Hunan Valin E-Commerce Co., Ltd. announced that it will receive CNY 38,000,000 in an equity round of funding on October 22, 2015. The transaction will include participation from existing investor, Hunan Valin Steel Co., Ltd. On closing, the investor will retain its 100% stake in the company. On closing, the registered capital of the company will increase from CNY 12,000,000 to CNY 50,000,000.

The transaction was approved at 27th session of the 5th directorate meeting of the investor. The company reported total assets of CNY 225,790,000 and net assets of CNY 6,810,000 for the year ended December 31, 2014.