Wuhan Wushang Yikatong Technology Co., Ltd. announced that it will receive CNY 70,000,000 in an equity round of funding from Wuhan Department Store Group Co., Ltd. (SZSE:000501) on October 28, 2014. The transaction has been approved at 7th session of the 7th directorate meeting of the investor. The transaction still needs to be submitted to the shareholders' meeting of the investor for review.

The registered capital of the company will increase from CNY 30,000,000 to CNY 100,000,000. The company reported total assets of CNY 30,972,100 and net loss of CNY 294,400 for the year ended December 31, 2013.