Shantou Zhongyeda Electrical Equipment Co., Ltd. announced that it will receive CNY 59,500,000 in funding from existing investor, Zhongyeda Electric Co., Ltd. on March 7, 2013. The company will issue equity securities in the transaction. The investor will continue to hold 100% stake in the company.

Following the closing, the capital of the company will increase from CNY 50,500,000 to CNY 110,000,000. The transaction has been approved in 25th session for 2nd directorate of the investor. The company reported total assets of CNY 215,683,924.14, revenues of CNY 198,308,292.52, and net profit of CNY 13,423,221.86 during year ended December 31, 2012.