Liangxin Electrical (Haiyan) Co., Ltd. announced that it will receive CNY 800,000,000 in an equity round of funding on August 29, 2022. The transaction will include participation from existing investor, Shanghai Liangxin Electrical Co.,LTD. to retain its 100% stake in the company. Post completion of the transaction, the capital of the company will be CNY 1,200,000,000.

The transaction has been approved in the eighth meeting of the sixth board of directors