Anhui Zhongxin Hongwei Technology Co., Ltd. announced that it will receive CNY 60,000,000 in an equity round of funding on October 27, 2023. The transaction includes participation from new investors Beijing GeoEnviron Engineering & Technology, Inc. for 51% stake and Anhui Xinyu Enterprise Management Center (Limited Partnership) for 49% stake. The company registered capital will increase from CNY 52,631,579 to CNY 67,353,026.

The capital increase shall be paid in one lump sum on the premise that all prerequisites for delivery agreed in the investment agreement are met. The transaction was approved by the board of directors in its 23rd meeting of the 5th board of directors of the investor.