Henan Energy and Chemical Group Finance Co., Ltd. announced that it will receive CNY 750,000,000 in an equity round of funding on July 30, 2020. The transaction will include participation from Henan Dayou Energy Co., Ltd (SHSE:600403). Post completion of the transaction, the capital of the company will increase from CNY 3,000,000,000 to CNY 3,750,000,000. Out of the total capital raised CNY 750,000,000 will go to registered capital and CNY 500,596,400,000 will go to capital reserve. Post completion of the transaction, the investor will hold 20% stake in the company. The transaction has been approved by the board of directors of the investor in the 26th meeting of its 7th directorate and no need to submit to the shareholders' meeting.