Shandong Aite Electric Engineering Co., Ltd. announced that it will receive CNY 57,000,000 in an equity round of funding from new investor Jilin Power Share Co.,Ltd. (SZSE:000875) on December 4, 2017. Post the closing, the new investor will acquire 95% stake in the company and the stake of the existing investor will dilute from 100% to 5%. Post the closing, the registered capital of the company will increase from CNY 3,000,000 to CNY 60,000,000. The transaction has been approved at the 7th directorate’s 20th meeting by the investor. The transaction is subject to approval from board of directors and does not need approval from the shareholders of the investor.