Shanghai Laien Machine Tool Parts Corporation announced that it has signed an agreement to receive CNY 10,000,000 in an equity round of funding from new investor, Shenzhen Inovance Technology Co., Ltd. (SZSE:300124) on June 20, 2016. As part of the round, the investor will acquire a total of 4.4444% stake in the company and will hold 60% after closing of acquisition of company shares and capital increase. The registered capital of the company is CNY 57,720,199. On June 28, 2016, the company announced that the transaction was approved by the 19th session of the 3rd directorate of the investor. The company reported account receivable of CNY 3,103,735.38, total assets of CNY 39,343,442.82, total liabilities of CNY 5,673,732.91, total shareholders’ equity of CNY 33,669,709.91, operating revenue of CNY 19,695,244.70, operating profit of CNY 2,648,132.89, and net profit of CNY 2,589,964.04 for the year ended December 31, 2015.