Yangxin Pengfu Mining Co., Ltd. announced that it will receive CNY 70,000,000 in equity funding on January 4, 2017. The transaction will include participation from new investor Beijing GeoEnviron Engineering & Technology,Inc. (SHSE:603588) to acquire 13.19% stake in the company. The transaction was approved at the 14th meeting of the 3rd directorate of the investor. The amount of CNY 8,075,510 will be added to the registered capital while the remaining portion CNY 61,924,490 will be added as capital reserve. The registered capital of the company will increase from CNY 30,000,000 to CNY 38,075,510. The company reported total assets of CNY 146,694,000, total equity of CNY 14,427,700, revenue of CNY 42,277,100, and net profit of CNY -9,587,100 for the year ended December 31, 2015.