Zhongyeda New Energy (Shanghai) Co., Ltd. announced that it will receive CNY 50 million in an equity round of funding from a returning investor, Zhongyeda Electric Co., Ltd. on January 29, 2015. The investor will maintain its stake at 100% in the company. Upon closing, the registered capital of the company will increase from CNY 50 million to CNY 100 million.

The transaction has been approved in the 10th meeting of the 3rd directorate of the investor and does not need the approval of the shareholders of the investor.