Haining Guangyao Thermal Power Co., Ltd. announced that it has entered into an agreement to receive CNY 107,620,695.17 in an equity round of funding on May 9, 2020. The transaction will include participation from returning investor Zhejiang Qianjiang Biochemical Co., Ltd. (SHSE:600796) for CNY 17,620,695.17, new investors Haining Xinxin Natural Gas Co., Ltd. for CNY 50,000,000 for 25% stake and Zhejiang Qiantangjiang Investment Development Co., Ltd. for CNY 40,000,000 for 20% stake in the company. Post to the transaction, the registered capital of the company will increase from CNY 92,379,304.83 to CNY 200,000,000 and the stake held by Zhejiang Qianjiang Biochemical Co., Ltd. (SHSE:600796) will decrease from 100% to 55%. The transaction has been approved in the 2020 2nd extraordinary meeting of the 8th directorate of Zhejiang Qianjiang Biochemical Co., Ltd. (SHSE:600796) and does not need approval from its shareholders.