Earth-Panda (Baotou) Permanent Magnet Technology Co., Ltd. announced that it will receive CNY 70 million in an equity round of funding from returning investor Earth-Panda Advanced Magnetic Material Co., Ltd. (SHSE:688077) on December 1, 2020. The investor will continue to retain its 100% stake in the company. The registered capital of the company will increase from CNY 30 million to CNY 100 million. The transaction has been approved in the investor's 11th meeting of the 6th directorate and is subject to approval from company's shareholders meeting.