Qingdao Huadian Marine Equipment Co., Ltd. announced that it will receive CNY 300 million in a round of funding on February 23, 2022. The transaction will include participation from returning investor Qingdao Huijintong Power Equipment Co.,Ltd to retain 100% stake in the company. The transaction has been approved in the second meeting of the fourth board of directors and does not need to be submitted to the company's general meeting of shareholders for deliberation.

After the capital increase, the registered capital of company will increase to CNY 315 million.