Jiaxing Konfoong Electronic Materials Co., Ltd. announced that it will receive CNY 150 million in an equity round of funding through capital increase from retuning investor Konfoong Materials International Co., Ltd to retain 100% stake in the company on October 17, 2022. The transaction has been approved at third board of directors and the 28th meeting of the third board of supervisors. After the completion of this capital increase, the registered capital will increase from CNY 30 million to CNY 180 million.