Thinkingdom Bookstore Co., Ltd. announced that it will receive CNY 28,500,000 in an equity round of funding on August 20, 2020. The transaction will include participation from returning investor Thinkingdom Media Group Ltd. (SHSE:603096) for CNY 4,275,000 to retain 15% stake in the company, and new investor Thinkingdom Co., Ltd. for CNY 24,225,000. As a part of the concurrent M&A transaction, Thinkingdom Co., Ltd. will acquire 85% stake in the company, and will continue to hold 85% stake post closing. The registered capital of the company will increase from CNY 71,500,000 to CNY 100,000,000. The transaction has been approved in the fifth meeting of the third directorate and the fifth meeting of the third board of supervisors of Thinkingdom Media Group Ltd. (SHSE:603096), and is not subject to its shareholders' approval.