Hefei Jixin Energy Technology Co., Ltd. announced that it will raise CNY 169,838,500 in an equity round of funding on August 9, 2023. The transaction will include participation from new investor, Anhui Genuine NewMaterials Co., Ltd. for 85% post completion of the transaction. The company will complete the paid-in capital contribution in installments.

The first phase of capital contribution is CNY 70,000,000, and the capital contribution will be in place before December 31, 2023. The transaction has been approved by the thirteenth meeting of the third board of directors of Anhui Genuine NewMaterials Co.,Ltd.