Shanghai Rongtai Technology Co., Ltd announced that it has raise CNY 90 million in an equity round of funding on January 21, 2022. The transaction included participation from returning investor JiangSu Zhenjiang New Energy Equipment Co., Ltd. The transaction was approved by the board of directors in its twelfth meeting of the third session of the board of directors. After completion of the transaction the company's registered capital will increased from CNY 10 million to CNY 100 million.

The investor will still hold 100% of its equity of the company. The transaction need not to be approved by shareholders in its general meeting of the company.