Cheer Fine Pharmaceutical (Anhui) Co., Ltd. announced that it will receive $3,000,000 in a round of funding on April 11, 2014. The transaction will include participation from existing investors, Daito Pharmaceutical Co., Ltd. and Cheer Fine Enterprises Co., Ltd., which will invest $360,000 and $2,640,000, respectively. After the transaction, Daito Pharmaceutical Co., Ltd. will retain 12% stake and Cheer Fine Enterprises Co., Ltd. will hold 76% stake in the company.

The schedule of the capital increase will be decided later. The company reported net assets of CNY 32,200,000 ($5,220,160) and total assets of CNY 85,810,000 ($13,911,200) for the year ended December 2013. The conversion was made through www.oanda.com on April 11, 2014.