Honghuotai Network Technology Co., Ltd. announced that it will receive CNY 11 million in equity round of funding from existing investor Yonyou Network Technology Co., Ltd. (SHSE:600588) on December 27, 2018. The investor will own 51.07% stake upon closing. The registered capital of the company is CNY CNY 50 million. The transaction was reviewed and approved at the 29th meeting of the 7th directorate of the investor and need not be submitted to the investor's shareholders meeting.