Sinostone (Hubei) New Materials Co., Ltd. announced that it will receive CNY 559,397,100 in an equity round of funding on August 31, 2021. The transaction will include participation from returning investor, Sinostone(Guangdong) Co., Ltd. to retain its 100% stake in the company. The registered capital of the company will increase from CNY 50,000,000 to CNY 609,397,100 post closing of the transaction. The transaction has been approved at the 16th meeting of the first board of directors and supervisors of the investor. The transaction still needs to be approved by the shareholders of the investor.