Shanjiao Sales Rizhao Co., Ltd announced that it will receive CNY 220,000,000 in an equity round of funding on December 25, 2020. The transaction will include participation from new investor Shandong Iron and Steel Company Ltd. (SHSE:600022). The transaction was approved by the board of directors of the investor at its 32nd session of the 6th directorate. Post to the closing, the investor will acquire 18.54% stake in the company.