New Culture Media Hong Kong Limited announced that it will receive CNY 619,600,000 in an equity round of funding on March 24, 2017. The transaction will include participation from returning investor Suzhou Chunxing Precision Mechanical Co., Ltd. (SZSE:002547) to maintain its 100% stake in the company after the transaction. The transaction was approved at the 9th session of the 3rd directorate of the investor and also need its shareholders’ approval. The transaction is subject to approval from the related governmental foreign exchange regulatory authorities. The registered capital of the company will increase from CNY 68,844,444.44 to CNY 688,444,444.44. The currency conversion was provided in the filing dated March 24, 2017. The company reported total assets of CNY 135,574,410.32, net assets of CNY 68,106,638.32, total liabilities of CNY 67,467,772, and net profit of CNY 198,503.34 for the year ended December 31, 2016.