Xiamen Xiangyu Golden Elephant Financial Leasing Co., Ltd. announced it will raise CNY 320 million in a round of funding on December 14, 2020. The transaction includes participation from new investor, Xiamen Xiangyu Co., Ltd. (SHSE:600057) for CNY 80 million to obtain 25% stake in the company and other investors. The transaction was approved by the board of directors in its 17th meeting of the 8th directorate and does not need shareholders approval of Xiamen Xiangyu Co., Ltd. (SHSE:600057). The registered capital of the company will increase from CNY 180,000,000 to CNY 500,000,000.