Xining Special Steel New Material Technology Co., Ltd. announced that it will receive CNY 80,000,000 in an equity round of funding from returning investor XiNing Special Steel Co., Ltd. (SHSE:600117) on December 22, 2020. On closing, the investor retains its 100% stake in the company. Post-closing, the registered capital of the company will increase from CNY 20,000,000 to CNY 100,000,000. The transaction was approved by the board of directors of XiNing Special Steel Co., Ltd. (SHSE:600117) in its nineteenth meeting of the eighth session.