Jiangsu Horizon New Energy Technology Co., Ltd. announced that it has received CNY 1,370,000,000 in a round of funding led by new investor, CDB Development Fund Ltd. for CNY 224,000,000 on September 14, 2022. The transaction also included participation from CCB Principal Asset Management Co., Ltd., Industrial Securities Co.,Ltd., returning investor, Changchai Company, Limited and new investors, Jiangsu Jiequan for CNY 240,000,000, ShenZhen Co-Stone Asset Management Co., Ltd., GF Qianhe Investment Co., Ltd., and China Structural Reform Fund Co., Ltd., a fund managed by Chengtong Fund Management Co., Ltd. among others. The company issued 19.68% of shares at a price of CNY 3.98 to the investors.

The round is raised at a post-money valuation of over CNY 69,600,000,000. The transaction included participation from total 11 investors.