Anhui Magnesium Aluminum Building Formwork Technology Co., Ltd. announced that it will raise CNY 200 million in an equity funding on April 25, 2024. The transaction will include participation from returning investor, Baowu Magnesium Technology Co., Ltd. The transaction has been approved at the 2nd meeting of the 7th board of directors. The transaction is still subject to approval of 2023 annual general meeting.

The specific capital increase amounts and registered capital will be subject to final confirmation by the investor's registration authority.