Suzhou W-olf Photoelectric Material Co., Ltd. announced that it will receive CNY 178,000,000 in a round of funding on June 5, 2020. The company will issue common shares for CNY 50,000,000 and a loan for CNY 128,000,000 in the transaction. The registered capital will increase from CNY 5,000,000 to CNY 55,000,000 upon closing. The transaction has been approved by the 11th session of the 1st supervisory board and 14th session of the 1st directorate of the company.