Nanyang Tiancheng New Energy Technology Co., Ltd. announced that it will receive CNY 100 million in a round of funding on October 14, 2022. The transaction will include participation from returning investor Henan Yicheng New Energy Co., Ltd. The company issued common shares in the transaction. The transaction has been approved in the 29th session of the company's 5th directorate of the company.

Post completion, the company;s stake in Nanyang Tiancheng will not be less than 51% and the investor will own not more than 49% stake.