Jiangsu Xingda Steel Tyre Cord Group Corporation announced that it entered in to capital increase agreement with the Chengshan Group Co., Ltd for CNY 50,000,000 for 26.33% stake, Shandong Linglong Tyre Co.,Ltd. (SHSE:601966) for CNY 50,000,000 for 0.73% stake,, Sailun Group Co., Ltd. (SHSE:601058) for CNY 50,000,000 for 0.73% stake, Triangle Tyre Co., Ltd (SHSE:601163) for CNY 50,000,000 for 0.73% stake, and Jiaxing Jianxin Chenyue Equity Investment Enterprise (Limited Partnership) for CNY 30,000,000 for 0.43% stake. for gross proceeds of CNY 230,000,000 on December 16, 2020. The company registered capital pre-transaction is CNY 1,844,286,380, post transaction the registered capital will increase to CNY1,908,175,265.