Bohai Automotive International Gmbh announced that it will receive CNY 478,340,900 (€58,572,843.205) in an equity round of funding on August 28, 2020. The transaction includes participation from returning investor, Bohai Automotive Systems CO., LTD. (SHSE:600960). Post the closing of the transaction, the investor will continue to hold 100% stake in the company. The transaction has been approved at the twenty eighth meeting of the seventh board of directors of the investor. The transaction needs to be approved by the Development and Reform Commission, the commerce department and other relevant authorities. The transaction also needs to be approved by the shareholders of the investor. The transaction has been approved by 15th session of 7th supervisory board of the investor.