Wuxi Sinosbio Biomedicine Science and Technology Co., Ltd. announced that it will receive CNY 20,000,000 in an equity round of funding from new investor, Changsheng Bio-Technology Co., Ltd. (SZSE:002680) on February 3, 2016. The company, the investor, and the existing shareholders of the company entered into a capital increase agreement on the same date. On closing, the investor will hold 20% stake in the company.

As part of the transaction, the company will transfer CNY 4,055,000 to its registered capital and the balance to its reserve. On closing, the registered capital of the company will increase from CNY 16,220,000 to CNY 20,275,000. The company reported total assets of CNY 26,768,474.28, total liabilities of CNY 24,945,601.35, revenues of CNY 2,252,627.03, and net profit of –CNY 4,267,597.07 for the year ended December 31, 2015.