Chongqing Fuyida Technology Co., Ltd. announced that it has entered into a capital increase agreement for private placement of common shares for gross proceeds of CNY 71,000,000 on June 11, 2018. The transaction will included participation from new investors, Shenzhen Prince New Materials Co., Ltd. (SZSE:002735) for CNY 60,350,000 of which CNY 4,744,500 will be added as registered capital and remaining CNY 55,605,500 will be added as capital reserve of the company, and Li Zhi for CNY 10,650,000 of which CNY 837,300 will be added as registered capital and remaining CNY 9,812,700 will be added as capital reserve of the company. After the transaction, Shenzhen Prince New Materials Co., Ltd. (SZSE:002735) will hold 51% stake and Li Zhi will hold 9% stake in the company. The company reported total assets of CNY 342,337,800, total liabilities of CNY 27,711.51, total equity of CNY 65,222,700, total money attributable to parent company of CNY 342,337,800, revenue of CNY 344,151,200, operating revenue of CNY 24,337,300, total profit of CNY 22,591,300, net profit of CNY 18,538,000, and net profit attributable to parent company of CNY 18,538,000 for the year ended December 31, 2017.