China New Energy Vehicle Co., Ltd. announced that it will receive CNY 206,025,552 in an equity round of funding on August 9, 2015. The transaction will include participation from new investors, Zhongshan Broad-Ocean Motor Co., Ltd. and Cui Hailong for CNY 103,012,776 each; of which CNY 71,536,680 each will be transferred to registered capital. The company has signed the capital increase agreement with the investors.

Upon closing, the registered capital will increase from CNY 95,382,200 to CNY 238,455,500. The company will put CNY 62,952,252 in capital reserve. As part of the transaction, Zhongshan Broad-Ocean Motor Co., Ltd. and Cui Hailong will acquire 30% stake each.

The stake of China Logistics Co., Ltd. will dilute from 100% to 40%.