Hangzhou Ferrotec Corporation announced that it has raised $511,170,000 in a round of funding co-led by Zhejiang State-owned Capital Operation Co.,Ltd, and Shanghai Linxin Investment Management Company on September 6, 2021. The transaction also involved participation from SDIC Chuangyi Industry Fund Management Co., Ltd., CCB International Asset Management Ltd., Shanghai Guosheng Capital Management Co., Ltd., China Cinda Asset Management Co., Ltd., CICC Pucheng Investment Co., Ltd., BOCOM International Asset Management Limited, CICC Investment Group Company Limited, Shanghai Orient Securities Capital Investment Co., Ltd., and China SME Development Fund.