Easpring Technology (Changzhou) New Materials Co., Ltd. announced that it will receive CNY 1.72 billion in a round of funding by investor, Beijing Easpring Material Technology CO.,LTD. on October 21, 2022. The proposal on Increasing Capital of Subsidiary Easpring Technology (Changzhou) New Materials Co., Ltd. has been approved by the 15th meeting of the 5th Board of Directors. After the capital increase, the registered capital of company will increase from CNY 1.28 billion to CNY 2 billion among which, 720 million yuan will go into registered capital and the remaining 1,000,000,000 yuan will be included in Changzhou Easpring's capital reserve.