Yichang Bangpu Yihua Environmental Technology Co., Ltd. announced that it will receive CNY 260,000,000 in a round of funding on July 24, 2023. The company will issue common shares in the transaction. The transaction will include participation from returning investor Hubei Yihua Chemical Industry Co., Ltd. for CNY 132,600,000 and new investor Yichang Bangpu Yihua New Materials Co., Ltd. for CNY 132,600,000.

The transaction was approved in the 23rd Meeting of the 10th Directorate and the 15th Meeting of the 10th Supervisory Board of Hubei Yihua Chemical Industry Co., Ltd. Before transaction, the registered capital of the company was CNY 360,000,000 and after transaction, the registered capital of the company will be CNY 620,000,000. Before and after capital increase, Yichang Bangpu Yihua New Materials Co., Ltd. will hold 51% stake and Hubei Yihua Chemical Industry Co., Ltd. will hold 49% stake in the company.