Anhui Xinhai Gaodao New Materials Co., Ltd. announced that it will receive CNY 480,000,000 equity round of funding on December 11, 2023. The transaction include the participation from returning investor Anhui Truchum Advanced Materials and Technology Co. Ltd., hold 100% stake in the company.

The company's registered capital will increase from CNY 50,000,000 to CNY 480,000,000. The transaction has been approved in the 16th Meeting of the Company?s 6th Directorate and the 13th Meeting of the Company?s 6th Supervisory Board and does not need the Shareholders? Approval.