Zhejiang Dibay Intelligent Control Technology Co., Ltd. announced that it will receive CNY 100 million in an equity round of funding on April 12, 2022. The transaction includes participation from returning investor, ZHEJIANG DIBAY ELECTRIC CO.,Ltd. to retain its 100% stake in the company. The registered capital of the company will be changed to CNY 220 million post closing of the transaction.

The transaction will close no later than December 31, 2022. The transaction has been approved at the 14th meeting of fourth board of directors of the company.