Tangshan Caofeidian Jidong Equipment Machinery Thermal Processing Co., Ltd. announced that it will receive CNY 154,590,000 in a round of funding on March 16, 2022. The transaction will include participation from existing investors Tangshan Jidong Equipment Engineering Co., Ltd. for 15% for CNY 23,188,500, and Jidong Development Group Co., Ltd. for 85% stake for CNY 131,401,500. The transaction is been approved in the eighth meeting of the seventh board of directors of the company.

After the completion of the transaction, registered capital will be increased from CNY 236,660,000 to CNY 391,250,000.