Jingshan Kailong Juwuxing Building Materials Co., Ltd. announced that it will receive CNY 275 million in an equity round of funding on November 15, 2022. The transaction included participation from retuning investors Hubei Kailong Chemical Group Co., Ltd. for CNY 114,000,000 to hold 40% stake, Jingshan Kailong Mining Co., Ltd. for CNY 31,100,000 for 10.912% stake, Jingshan Huashan Mining Co., Ltd for CNY 39,168,000 for 13.743% stake, Jingshan Changdangkou Mining Co., Ltd for CNY 25,183,000 for 8.836% stake, Jingshan Fangling Stone Factory for CNY 25,183,000 for 8.836% stake, Jingshan Tuobushan Stone Factory for CNY 25,183,000 for 8.836% stake, and Jingshan Taishan Stone Factory for CNY 25,183,000 for 8.836% stake in the company. The transaction still needs to be approved by shareholders of Jingshan Kailong Juwuxing Building Materials Co., Ltd. After completion of transaction, registered capital will increase from CNY 10 million to CNY 285 million.