Chongqing WOTE Zhicheng New Material Technology Co., Ltd. announced that it will receive CNY 90 million in an equity round of funding through capital increase from retuning investor Shenzhen WOTE Advanced Materials Co., Ltd to retain 100% stake in the company on October 11, 2022. After the capital increase is completed, the registered capital will increase from CNY 310.4 million to CNY 400.4 million. The transaction has been reviewed and approved by the general meeting and does not need to be submitted to the company's board of directors and shareholders for approval.