Ningbo Pacific Electric Control System Co., Ltd. announced that it will receive CNY 100 million in an equity round of funding on November 27, 2021. The transaction will include participation from returning investor Jiangsu Pacific Precision Forging Co., Ltd. to retain 100% stake in the company. The registered capital of the company increased from CNY 100 million to CNY 200 million.

The transaction as approved by the fourth meeting of the fourth board of directors of the investor.