Dongguan Guoli New Material Products Co., Ltd. announced that it will receive CNY 48,000,000 in a round of funding on October 31, 2022. The transaction will include participation from existing investor, Guangdong Guoli Sci & Tech Co., Ltd. The transaction has been approved in the 16th meeting of the third board of directors. This capital increase is within the authority of the board of directors and does not need to be submitted to the general meeting of shareholders for deliberation.