Hangzhou S.F. Tongcheng Industrial Co., Ltd announced that it will receive CNY 409,000,000 in an equity round of funding on March 17, 2021. The transaction will include participation from existing investor S.F. Holding Co., Ltd. (SZSE:002352). As a part of the transaction, CNY 30,294,501 will go to registered capital and it will increase from CNY 771,982,406 to CNY 802,276,907. Pursuant to the transaction, S.F. Holding Co., Ltd. (SZSE:002352)'s stake will increase from 40.58% to 42.82%. The company has signed a capital increase agreement with the investor. The round is being raised at a pre-money valuation of CNY 9,000,000,000. The transaction has been approved in the 12th meeting of 5th directorate of the company and does not need shareholder approval.