Seven Stars Electric Co., LTD. announced that it will receive CNY 90,000,000 in an equity round of funding on December 25, 2019. The transaction will involve participation from returning investor Seven Stars Electric Co., LTD. for CNY 32,500,000, new investors, Jiangsu Luokai Mechanical &Electrical Co., Ltd. (SHSE:603829) for CNY 51,000,000 for 51% stake, new individual investors, Yan Tao for CNY 5,000,000 for 5% stake, Chen Yuexin, Chen Yuxin, and Zhang Zhengchen for CNY 500,000 and 0.5% stake in the company each. Post completion of the transaction, the registered capital of the company will increase from CNY 10,000,000 to CNY 100,000,000; and Seven Stars Electric Co., LTD. will own 42.5% stake in the company. The transaction was approved by Jiangsu Luokai Mechanical &Electrical Co., Ltd. (SHSE:603829) in its 14th session of 2nd directorate and the 13th session of its 2nd supervisory board.