Qingyang Packaging Technology (Shanghai) Co., Ltd. announced that it will raise CNY 30,000,000 in a equity round of funding on December 2, 2020. The transaction included participation from returning investor Shanghai Sunglow Packaging Technology Co.,Ltd (SHSE:603499) for 100% stake in the company. The company registered capital will increase from CNY 49,580,720 to CNY 79,580,720 after the capital increase. The transaction was approved in thirty-fourth meeting of 2nd directorate by board of directors. The transaction is not subjected to share holders approval.