Shenhaotong Metal (Shanghai) Co., Ltd. announced that it will receive CNY 80 million in a round of funding on March 15, 2022. The transaction will include participation from existing investor, Hootech Inc. The transaction has been approved in the 5th session of the company's 6th directorate approved approved the proposal on the capital increase in the wholly-owned subsidiary. After the completion of this capital increase, the registered capital of company will increase from CNY 20 million to CNY 100 million , and the company will hold 100% of its equity.