Chongqing Lifan Financial Co., Ltd. announced that it will receive a round of funding from existing investors Lifan Industry (Group) Co., Ltd (SHSE:601777) and Chongqing Lifan Holdings Co., Ltd. for gross proceeds of CNY 1,500,000,000 on January 16, 2018. Lifan Industry (Group) Co., Ltd (SHSE:601777) will invest CNY 735,000,000 and Chongqing Lifan Holdings Co., Ltd. will invest CNY 765,000,000 in the transaction. Post the closing of the transaction, both the investors will continue to retain their respective stakes in the company and the company's registered capital will increase from CNY 1,500,000,000 to CNY 3,000,000,000. The transaction has been approved at the 5th session of the 4th directorate meeting of Lifan Industry (Group) Co., Ltd (SHSE:601777) and is subject to approval from its shareholders. The company reported total assets of CNY 8,215,344,958.03, net assets of CNY 1,709,451,101.64, revenue of CNY 216,015,154.47, and net income of CNY 110,541,672.51 for the year ended December 31, 2017. On January 26, 2018, the company announced that the transaction has been approved by the shareholders of Lifan Industry (Group) Co., Ltd (SHSE:601777) at the 1st special shareholders meeting of 2018.