Wuhan Hanwe Sports Investment Management Co., Ltd. announced that it will receive CNY 100,000,000 in an equity round of funding from new investor, Wuhan DDMC Culture Co., Ltd. on June 3, 2016. The company and the investor entered into a capital increase agreement for the transaction. As part of the transaction, the company will transfer CNY 52,040,000 to the registered capital and the balance of CNY 47,960,000 to its capital reserve. Pursuant to completion, the registered capital of the company will increase from CNY 50,000,000 to CNY 102,040,000. On closing, the investor will hold 51% stake in the company. The transaction has been approved at 25th session of 7th directorate meeting of the investor. The transaction is not subject to approval from the shareholders of the investor. The company reported total assets of CNY 26,399,300, net assets of CNY 26,111,500, operating revenues of CNY 1,755,700, and net profit of CNY -1,888,500 for the year ended December 31, 2015.