Chongqing GRIMP Heavy Metallurgical New Materials Co., Ltd announced that it will receive CNY 60,000,000 in a round of funding on December 14, 2021. The transaction will include participation from returning investor GRIMP Advanced Materials Co., Ltd. to retain its 100% stake in the company. On closing, the registered capital of the company will increase from CNY 80,000,000 to CNY 140,000,000.

The transaction has been approved at the seventeenth interim meeting of the first board of directors and the seventh interim meeting of the first board of supervisors of the investor.