Ningbo Tuopu Chassis Technology Co., Ltd announced that it will receive CNY 426,906,668.08 in equity funding from existing investor, Ningbo Tuopu Group Co., Ltd. (SHSE:601689) on June 20, 2017. Post the transaction the investor will retain its 100% stake in the company. The registered capital of the company will increase from CNY 36,252,555 to CNY 463,159,223.08 upon closing. The transaction has been approved at 34th meeting of 2nd directorate of the investor and is not subject to approval from its shareholders.