Zhejiang Huamao Technology Co., Ltd. announced that it will receive CNY 100 million in an equity round of funding on October 10, 2023. The transaction included the participation from Hengsheng Energy Co., Ltd., increase the stake from 66.67% to 80%. The registered capital is increase from CNY 150 million to CNY 250 million.

The transaction has been approved at the 4th session of Hengsheng Energy Co., Ltd's 3rd directorate and the 3rd session of 3rd supervisory board, and still needs to be approved by the shareholders? meeting.