Luoyang Lianchuang Lithium Energy Technology Co., Ltd. announced that it has entered into a capital increase agreement and it will receive CNY 225,000,000 in an equity round of funding on January 29, 2024. The transaction will include participation from new investor, Beijing Lier High-temperature Materials Co.,Ltd. for CNY 150,000,000, of which CNY 2,074,904 will be included in the company?s registered capital, and the remaining CNY 147,925,096 will be included in the company's capital reserve accounting for 10% stake and new individual investor, Zhao Jizeng for CNY 75,000,000, of which CNY 1,037,452 will be included in the company's registered capital, and the remaining CNY 73,962,548 will be included in the company's capital reserve, accounting for 5% stake. The transaction has been reviewed and approved at the 21st meeting of the 5th board of directors of Beijing Lier High-temperature Materials Co.,Ltd. The pre-investment valuation of the company for before capital increase is CNY 1,275,000,000, After the completion of capital increase, the post-investment valuation of the company will be CNY 1,500,000,000.