First (Chuzhou) New Materials Co., Ltd. announced that it will receive CNY 150 million in an equity round of funding on December 10, 2021. The transaction will include participation from returning investor Hangzhou First Applied Material Co., Ltd. After the closing of the transaction, the amount will be added to the capital reserve. The transaction has been approved by the 29th meeting of the 4th board of directors and the 28th meeting of the 4th board of supervisors of Hangzhou First Applied Material Co., Ltd.