Shanghai Chaosheng Technology Co., Ltd. announced that it will receive CNY 45,000,000 in an equity round of funding on February 9, 2022. The transaction will include participation from existing investor Baotailong New Materials Co., Ltd. Pursuant to the transaction, the registered capital of the company will increase from CNY 5,000,000 to CNY 50,000,000. The transaction has been approved at the 24th meeting of 5th session of board of directors of the company's parent.