Changyuan Technology (Tianjin) Co., Ltd. announced that it will receive CNY 60,000,000 in a round of funding on March 26, 2020. The transaction will include participation from existing investor, Changshu Automotive Trim Co., Ltd. for CNY 55,200,000. The transaction will also include participation from existing investor, Shanghai Houwang Investment Management Co., Ltd. On closing, Shanghai Houwang Investment Management Co., Ltd will hold 8% stake in the company. On closing, the registered capital of the company will increase from CNY 73,800,000 to CNY 133,800,000. The transaction was approved at the 7th meeting of the 3rd directorate of Changshu Automotive Trim Co., Ltd. and is not subject to approval from its shareholders.