Jiangsu Fuma High-tech Power Machinery Co., Ltd. announced that it will receive CNY 17,000,000 in an equity round of funding on October 28, 2022. The transaction will include participation from returning investor, Linhai Co.,Ltd. to retain 100% stake in the company. The transaction has been reviewed and approved at the 13th meeting of the 8th session of Board of Directors of the investor.

Post to the transaction, the registered capital of the company will increase from CNY 28,000,000 to CNY 45,000,000.