Hangzhou Hongcheng Industrial Co., Ltd announced that it will receive CNY 9 million in an equity round of funding on July 17, 2019. The transaction will include participation from existing investor Zhejiang grandwall electric science&technology co.,ltd. (SHSE:603897). Post-completion of the transaction, the registered capital of the company will increase from CNY 1 million to CNY 10 million. The investor will retain 100% stake in the company. The transaction has been approved at 12th meeting of the 3rd directorate and 10th meeting of 3rd board of supervisors.