Jiangxi Hengda New Energy Technology Co., Ltd. announced that it will receive CNY 10,000,000 in an equity round of funding on March 24, 2022. The transaction will include participation from returning investor Jiangxi Hengda Hi-Tech Co.,Ltd., which will retain its 100% stake in the company. The registered capital of the company will increase from CNY 20,000,000 to CNY 25,000,000.

Out of the total proceeds, CNY 5,000,000 will go towards registered capital and rest CNY 5,000,000 will go towards capital reserve. The transaction has been approved by the board of directors of the investor in its 16th Extraordinary Meeting of the Fifth Session of the Board of Directors.