Grand Ecological Technology (Ningbo) Co., Ltd. announced that it will raise CNY 100 million in an equity round of funding on December 19, 2022. The transaction included participation from returning investor Grand Industrial Holding Co.,Ltd. The transaction was approved by the board of directors in its tenth session of the board of directors of the company held the fourteenth meeting of 2022. After the capital increase, the registered capital of the company will increase from CNY 200 million to CNY 300 million.