Shandong Luyin New Material Technology Co., Ltd. announced that it will receive CNY 80 million in an equity round of funding on August 18, 2021. The transaction will include participation from returning investor, Luyin Investment Group Co., Ltd. The stake of the investor will increase from 90.57% to 92.22% post closing of the transaction. Of the total increase, CNY 7,657,000 will be added to the registered capital and the remaining will be added as capital reserve.

The registered capital of the company will increase from CNY 36,225,500 to CNY 43,882,500 post closing of the transaction. The transaction has been approved at the 24th session 10th directorate of the investor.