Ningbo Tuopu Automobile Electronics Co., Ltd. announced that it will receive CNY 300,000,000 in an equity round of funding on August 25, 2017. The transaction will include participation from existing investor, Ningbo Tuopu Group Co., Ltd. (SHSE:601689). Post transaction, the investor will retain 100% stake in the company. The registered capital of the company will increase from CNY 500,000,000 to CNY 800,000,000. The transaction was approved at the 37th session of the 2nd directorate meeting of Ningbo Tuopu Group Co., Ltd. (SHSE:601689) and is still subject to the approval of its shareholders’ meeting.