Sai Ma IOT Technology (Ningxia) Co., Ltd. announced that it will receive CNY 321 million in an equity round of funding on April 30, 2021. The transaction will include participation from Ningxia Building Materials Group Co.,Ltd for CNY 128.4 million for 55% stake, Xinjiang Tianshan Cement Co., Ltd for CNY 128.4 million for 30% stake, Ruichuang Partnership for CNY 21.4 million for 5% stake, China National Building Materials & Equipment Import & Export Corporation for CNY 42.8 million for 10% stake. Out of total transaction size, CNY150 million will be added as paid-in capital, CNY171 million will be added as capital reserve. The investors will subscribe to company's registered capital at a price of CNY 2.14 for every CNY1. The transaction is expected to be closed prior to June 30, 2021. The transaction is approved by the 7th directorate at the 28th session of the company and 37th meeting of the company's seventh board of directors.