Tianci Materials (Nantong) Co., Ltd. announced that it would receive CNY 350,000,000 in an equity round of funding from returning investor Guangzhou Tinci Materials Technology Co., Ltd. on December 10, 2021. The transaction has been approved in the 22nd meeting of the Fifth Board of Directors and of the 16th meeting of the 5th board of supervisors of the investor. The investor will continue to hold 100% stake in the company.

The capital of the company will increase from CNY 30,000,000 to CNY 380,000,000.