Guangzhou Zhongyeda Electrical Appliance Co., Ltd. announced that it will receive CNY 18,600,000 in equity funding from existing investor Zhongyeda Electric Co., Ltd. on April 26, 2017. Pursuant to the transaction, the investor shall continue to hold 100% stake in the company. The company’s registered capital will be increased from CNY 2,000,000 to CNY 20,600,000. The transaction has been approved at 36th session of its 3rd directorate of the investor. The company has reported total assets of CNY 181,371,546.75, total liabilities of CNY 142,898,573.37, net assets of CNY 38,472,973.38, revenues of CNY 700,288,214.80, total profit of CNY 7,846,312.62, and net profit of CNY 5,729,866.58 for the year ended December 31, 2016.