China Machinery Huanyu (Shandong) Vehicle Certification and Testing Co., Ltd. announced that it will receive CNY 853,258,917 on March 14, 2024. The transaction include the participation from returning investors China Machinery Huanyu Certification and Inspection Co., LTD hold 85% stake in the company and Dezhou Jianneng Industrial Group Co., Ltd., hold 15% stake in the company. The company's registered capital is increase from CNY 60,000,000 to CNY 180,000,000.

The transaction has been approved at the 19th Meeting of the 1st Board of Directors and 17th Meeting of the 1st Board of Supervisors. The company will raise the funding through first tranche CNY 501,917,010.34 and second tranche CNY 351,341,907.24.