Guizhou Zhenhua Yilong New Material Co., Ltd announced that it will raise CNY 450 million in equity round of funding on December 28, 2021. The transaction will include participation from returning investor Guizhou Zhenhua New Material Co., Ltd to retain its 100% stake. The transaction has been approved in nineteenth meeting of the fifth board of directors of the investor and the twelfth meeting of the fifth board of supervisors, the proposal needs to be submitted to the investor's general meeting of shareholders for approval.