Tianjin Pacific Transmission Technology Co., Ltd. announced that it will receive CNY 232,600,000 in an equity round of funding on February 16, 2022. The transaction will include participation from returning investor, Jiangsu Pacific Precision Forging Co., Ltd. to retain its 100% stake in the company. The proceeds of which CNY 60,000,000 will be used to increase the registered capital and the remaining CNY 172,600,000 will go into capital reserve.

Post the closing, the registered capital will increase from CNY 500,000,000 to CNY 560,000,000. The transaction has been approved at the the fifth meeting of the fourth board of directors.