Kunming Tuheng Technology Co., Ltd. announced that it has entered into capital increase agreement with Shanghai YongLi Belting Co., Ltd (SZSE:300230) for a private placement of common shares to receive gross proceeds of CNY 5,681,800 on January 25, 2021. Post the closing, Shanghai YongLi Belting Co., Ltd (SZSE:300230) will hold 10.2044% stake in the company and the registered capital will increase from CNY 10,000,000 to CNY 11,136,400. The transaction does not need the approvals of the investor’s directorate and shareholders.