Huizhou Jinlongyu Ultra High Voltage Cable Co., Ltd. announced that it will receive CNY 600,000,000 in a round of funding from returning investor Jinlongyu Group Co., Ltd. on October 20, 2021. The company will issue common shares in the transaction. Post the closing of the transaction, the investor will continue to hold 100% stake in the company.

The transaction was approved by the the sixth (temporary) meeting of the third board of directors and the sixth meeting of the third board of supervisors of the investor. The transaction is not subjected to shareholders approval of investor.