Zhejiang Jinlihua Electric Co., Ltd. announced that it will receive a round of funding from existing investor, Shanxi Red Sun Tourism Development Co., Ltd. on November 1, 2021. The company will issue common shares in the transaction. The issuance price of the matching funds raised by the issuance of shares is CNY 20.51 per share, which is not less than 80% of the average price of the company's stock trading on the 20 trading days before the pricing base date.

The shares issued are subject to a hold period of 36 months from the date of issuance. The transaction has been reviewed and approved by the Shenzhen Stock Exchange and approved by the China Securities Regulatory Commission. The eleventh meeting of the fifth board of directors of the listed company reviewed and approved the relevant proposals.