Hangzhou Steam Turbine New Energy Co., Ltd. announced that it will receive CNY 300,000,000 in a round of funding on March 22, 2022. The transaction will include participation from returning investor Hangzhou Steam Turbine Co., Ltd. On closing, the registered capital of the company will increase from CNY 200,000,000 to CNY 500,000,000. The transaction has been approved 22nd Meeting of the Company's 8th Directorate and does not need the shareholder's approval, and is subject to Hangzhou State-Owned Capital Investment and Operations Co., Ltd.'s approval.