Jiangxi Xuli Mining Co., Ltd. announced that it has entered into a capital increase agreement for an equity funding on July 17, 2017. The transaction will include participation from new investor, Yongxing Special Stainless Steel Co., Ltd. (SZSE:002756) which will invest CNY 100,000,000 to subscribe for CNY 10,526,316 into the registered capital, and CNY 89,473,684 into the capital reserve, and existing investor, Shenzhen Southbridge Venture Capital Fund Partnership Enterprise (Limited Partnership)which will subscribe for CNY 2,105,263 into the registered capital. Pursuant to the transaction, Yongxing Special Stainless Steel Co., Ltd. (SZSE:002756) will acquire 12.1951% stake in the company. Post transaction, the stake of Shenzhen Southbridge Venture Capital Fund Partnership Enterprise (Limited Partnership) in the company will increase from 5% to 6.7073%. The registered capital of the company will increase from CNY 73,684,211 to CNY 86,315,790. The company reported total assets of CNY 164,916,500, net assets of CNY 87,037,700, operating revenues of CNY 96,318,700 and net loss of CNY 9,575,800 for the year ended December 31, 2016. On July 24, 2017, the transaction was approved at the 5th interim session of the 4th directorate meeting of Yongxing Special Stainless Steel Co., Ltd. (SZSE:002756) and does not require the approval of its shareholders’ meeting.