Zhejiang Hongfeng Copper Foil Co., Ltd. announced that it will raise CNY 120,000,000 in an equity funding on January 11, 2024. The transaction will include participation from returning investor, Wenzhou Hongfeng Electrical Alloy Co., Ltd. will increase its stake from 69.81% to 78.82%. After the capital increase, the company's registered capital will increase from CNY 66,250,000 to CNY 94,419,014.

Out of the total capital increase, CNY 28,169,014 will be added to registered capital and CNY 91,830,986 will be added to capital reserve. The transaction has been approved at the 5th directorate during its 20th (extraordinary) meeting and 5th supervisory board during its 18th (extraordinary) meeting.