Shenzhen Qianhai Foran Energy Co., Ltd. announced that it will receive CNY 400 million in an equity round of funding on March 30, 2022. The transaction will include participation from returning investor Foshan Gas Group Co.,Ltd. Post the transaction the registered capital of the company will increase from CNY 30 million to CNY 430 million. The transaction has been approved by the board of directors of the investors in the 26th meeting of the 5th board of directors.

The transaction does not need the approval of shareholders of the investor.