Hunan Valin Lianyuan Iron & Steel Co., Ltd. announced that it will receive CNY 994,118,773 in equity round of funding from existing investor Hunan Valin Steel Co., Ltd. (SZSE:000932) on December 16, 2019. The transaction will take place after completion of reorganization and investor will own 100% stake in the company. The transaction has been approved at the 7th meeting of 7th directorate and 7th meeting of 7th board of supervisors of Hunan Valin Steel Co., Ltd. (SZSE:000932) and does not need its shareholders approval.