Ningbo Ginlong Smart Energy Co., Ltd. announced that it will receive CNY 100 million in an equity round of funding on August 11, 2021. The transaction will include participation from returning investor Ginlong Technologies Co., Ltd. to retain 100% stake in the company. The registered capital will be increased from CNY 100 million to CNY 200 million.

The transaction does not need to be submitted to the board of directors and the general meeting of shareholders for deliberation.