Qingyuan Tinci Materials Co., Ltd. announced that it will receive CNY 155 million in an equity round of funding on May 24, 2023. The transaction will include participation from returning investor, Guangzhou Tinci Materials Technology Co., Ltd. to retain its 100% stake in the company. Post completion of the transaction, the registered capital of the company will increase from CNY 95 million to CNY 250 million.

The transaction has been approved at the investor's 2nd meeting of the 6th directorate and 2nd meeting of the 6th supervisory board.