Hubei Sanyang Petrochemical Co., Ltd. announced that it will receive CNY 40 million in an equity round of funding on January 16, 2016. The transaction will include participation from existing investors, Hubei SanFeng Intelligent Conveying Equipment Co., Ltd. for CNY 28 million and Liu Sanxian for CNY 12 million to retain 70% and 30% respectively. The transaction has been approved at the 15th meeting of the 2nd board of directors of Hubei SanFeng Intelligent Conveying Equipment Co., Ltd. and does not need its shareholders' approval.

Upon completion, the registered capital of the company will increase from CNY 10 million to CNY 50 million.