Fujian Zhongzhou New Materials Technology Co., Ltd. announced that it will receive CNY 110,000,000 in an equity round of funding on November 10, 2021. The transaction will include participation from new investors Zhejiang Wansheng Co., Ltd., Equity Incentives Platform and Co-Investment Platform. On post completion, the registered capital of Zhejiang Wansheng Co., Ltd. will be CNY 15,382,800 for 46.05% stake, the registered capital of Equity Incentives Platform will be CNY 7,100,000 for 20.51% stake, the registered capital of Co-Investment Platform will be CNY 1,170,300 for 3.5% stake.

The transaction The investors will complete the payments no later than June 30, 2023. Within 90 days after the agreement signing, the change of business registration of the capital increase will be completed.