Rongguang Information Technology (Qingdao) Co., Ltd. announced that it will receive CNY 1 million in its equity round of funding from existing investor, Ecomic Co., Ltd (SPSE:3802) on July 15, 2014. The investor will continue to hold 100% stake in the company upon closing. The capital of the company will increase from CNY 1 million to CNY 2 million upon closing.

The board of directors of the investor approved the transaction. The expected settlement date will be in October 2014.