Nanjing Xiangrui Powder Engineering Co., Ltd. announced that it will raise CNY 30 million in a round of funding on April 26, 2021. The transaction included participation from new investor Shandong Zhangqiu Blower Co., Ltd (SZSE:002598). The company entered in to capital agreement with the investor for 40% stake in the company after the completion transaction. The company will use CNY 3.3333 million for new registered capital, CNY 26.6667 million for capital reserve. The transaction also include foreign investment. The transaction was approved by the board of directors tenth meeting of the company's fourth board of directors, does not need approval of shareholders.