Changzhou Liyuan New Energy Technology Co., Ltd. announced that it will receive CNY 1,290 million in an equity round of funding on June 13, 2022. The transaction will include participation from existing investor Jiangsu Lopal Tech. Co., Ltd. On closing, the registered capital of the company will increase from CNY 481,113,281 to CNY 720,741,131.

The transaction has been approved at the 34th meeting of its third board of directors and the 26th meeting of its third board of supervisors of Jiangsu Lopal Tech. Co., Ltd. The company will add CNY 239,627,850 as registered capital, and CNY 1,050,372,150 as capital reserve. On closing, Jiangsu Lopal Tech.

Co., Ltd. will hold 69.17% stake in the company.