Fujian Huide New Materials Co., Ltd. announced that it will receive CNY 150,000,000 in an equity round of funding on December 23, 2019. The transaction will include participation from returning investor Shanghai Huide Science & Technology Co.,Ltd (SHSE:603192). Out of total capital increase, CNY 100,000,000 will go into registered capital of the company and CNY 50,000,000 will goes to capital reserve. Post the transaction, the registered capital of the company will increase from CNY 200,000,000 to CNY 300,000,000 and the investor will continue to hold 100% stake in the transaction. The transaction has been approved by the investor's board of directors in its 6th meeting of the 2nd directorate and 5th meeting of the 2nd supervisory board.