Jiangsu Weien Composite Materials Technology Co., Ltd. announced that it will raise CNY 10,000,000 in an equity funding on May 29, 2024. The transaction will include participation from returning investors, Jiangsu Xinquan Automotive Trim Co.,Ltd. for CNY 3,500,000, Jiangsu Weien Industrial Investment Co., Ltd. for CNY 4,500,000 and individual investor, Zhang Weijie for CNY 2,000,000. The transaction has been approved at the 1st meeting of the 5th board of directors.

Upon the closing, the company's registered capital will increase from CNY 20,000,000 to CNY 30,000,000.