Zhengtai New Material Technology Co., Ltd. announced that it will receive CNY 700 million in equity round of funding on April 13, 2022. The transaction will include participation from existing investor Fujian Kuncai Material Technology Co., Ltd. to retain its 100% stake. Upon closing, the registered capital of the company will increase from CNY 200 million to CNY 700 million.

The transaction has been approved in the ninth meeting of the third board of directors.