Shenzhen Easy Connected Technology Co., Ltd. announced that it will receive CNY 169,942,197 in an equity round of funding from new investor Shenzhen Mindata Holding Co., Ltd. on May 30, 2016. The investor has signed a conditional capital increase agreement with the company and a conditional share transfer agreement with Ying Ping. Pursuant to the transaction; the investor will acquire a stake of 15% in the company's issued and outstanding share capital. Pursuant to the closing; the stake of Ying Ping will dilute from 15.1476% to 11.6027%. The investor will invest CNY 152,947,977 in the company's capital increase, wherein CNY 249,339 will go to registered capital and CNY 152,698,638 to capital reserve and CNY 16,994,220 to acquire CNY 27,704 investments from Ying Ping. Post the closing; the registered capital of the company will increase from CNY 1,597,612 to CNY 1,846,951. The transaction has been approved in the 28th meeting of the 4th directorate meeting of the investor and does not need the investor's shareholders approval. The company reported total assets of CNY 29,335,004.8, total liabilities of CNY 12,761,119.23, net assets of CNY 16,573,885.57, revenue of CNY 20,201,631.24, and net loss of CNY 35,729,630.18 for the year ended December 31, 2015.