Ji'an (Group) Co., Ltd. announced that it will receive CNY 1,970,482,610.66 in a round of equity funding from existing investor Anhui Shanying Paper Industry Co.,Ltd. (SHSE:600567) on September 24, 2016. The transaction is expected to be settled in tranches. Post the closing, the investor will continue to retain its stake of 100% in the company. The transaction has been approved at the 16th session of the 6th directorate of the investor. The company reported total assets of CNY 9,863,304,100, net assets of CNY 4,332,424,400, operating revenue of CNY 4,199,683,200, and net profit of CNY 423,566,800 for the year ended December 31, 2015. On the same day, the company announced that it has received gross proceeds of CNY 470,482,610.66 in the transaction. Out of the total proceeds to be received, CNY 140,000,000 will be added to the registered capital and the remaining will be added to the capital reserve of the company. The investor acquired a stake of 7% in the company. The registered capital of the company increased from CNY 1,860,000,000 to CNY 2,000,000,000.