Tuopu Brazil Auto Parts Co., Ltd. announced that it will receive gross proceeds of $7 million in equity round of funding from existing investor Ningbo Tuopu Group Co., Ltd. (SHSE:601689) to retain its 100% stake on August 16, 2018. The transaction needs approval of relevant state departments such as foreign exchange management and does not need to be approved by board of directors of investor. Post closing, the registered capital of the company will increase from $4.92 million to $11.92 million.