Hongxin New Energy Technology (Yunnan) Co., Ltd. announced that it will issue common shares for the gross proceeds of CNY 113.75 million on March 31, 2023. The transaction will include participation from returning investors Hunan Huamin Holdings Co., Ltd., Changsha Hongxin No.1 Enterprise Management Partnership, and Hunan Lixin Silicon Material Technology Co., Ltd. The registered capital will increase from CNY 50 million to CNY 150 million. The transaction has been approved in the 36th session of the company's 4th directorate and the 31st session of the company's 4th supervisory board.

post completion, the investor will hold 6.67% stake in the company.