Henan Shenma Nylon Technology Co., Ltd. announced that it has signed an agreement to raise CNY 200 million in an equity funding on March 11, 2024. The transaction will include participation from returning investors, Shenma Industry Co.Ltd will invest CNY 97.92 million, Pingdingshan Dongxin Coking & Chemical Co., Ltd. will invest CNY 8 million and Fujian Hengshen Synthetic Fiber Technology Co., Ltd. will invest CNY 94.08 million. The transaction has been approved at the 32nd meeting of the 11th board of directors.

Upon the closing, the company's registered capital will increase from CNY 187.5 million to CNY 387.5 million.