Jilin Jigang Clean Energy Company Limited announced that it has entered into a capital increase agreement with Jiyou Investment Co., Ltd. and Kunlun Energy Company Limited (SEHK:135) for common shares for gross proceeds of CNY 23,380,400 on May 17, 2018. Out of the total capital increase, CNY 20,000,000 will be included in paid-in capital and CNY 3,380,400 will be included in capital reserve. Post the closing, the registered capital of the company will increase to CNY 1,020,000,000 from CNY 1,000,000,000. Post the closing, Kunlun Energy Company Limited shareholding's will decrease from 51% to 50% and Jiyou Investment Co., Ltd. will increase from 49% to 50%. Completion of the capital increase is subject to the obtaining of the approval of competent authority and completion of the relevant filing procedures in accordance with the requirements of the relevant laws and regulations. The company reported total assets of CNY 727,453,060, revenue of CNY 150,010,660, net assets of CNY 674,594,570 and net loss of CNY 4,127,020 for the year ended December 31, 2017.