Henan Carve New Materials Research Institute Co., Ltd. announced that it will receive CNY 20 million in a round of funding on October 24, 2022. The transaction will include participation from existing investor, Henan Carve Electronics Technology Co., Ltd. The transaction has been approved in the 17th meeting of the second board of directors. Post completion of the transaction, the registered capital of the company will be increased from CNY 30 million to CNY 50 million, and the company will still hold 100% of its equity.