Liaoning Baolai New Material Co., Ltd announced that it will receive CNY 470,000,000 in an equity round of funding on July 25, 2021. The transaction will include participation from returning investor Kingfa Sci. & Tech.

Co., Ltd. Post completion of the transaction, the investors stake will increase from 43.9252% to 51.09%. Pursuant to the transaction, the registered capital of the company will increase from CNY 3,210,000,000 to CNY 3,680,000,000. The transaction has been approved by the board of directors of the investor in its fifth (temporary) meeting of the seventh board of directors.

The comapny signed capital increase agreement with Kingfa Sci. & Tech. Co., Ltd. The transaction is expected to close before December 30, 2021.