Li-Fun Technology Co.,Ltd. announced that it will receive CNY 142,000,000 in an equity round of funding on June 29, 2023. The transaction included participation from Malion New Materials Co., Ltd, Qilu Qianhai (Qingdao) Venture Capital Fund Partnership (L.P.), a fund managed by Qianhai Fangzhou (Qingdao) Venture Capital Fund Management Partnership Ent. (L.P.), Zhongyuan Qianhai Equity Investment Fund (L.P.), a fund managed by Qianhai Fangzhou Asset Management Co., Ltd. and Qianhai Fangzhou (Zhengzhou) Venture Capital Management Enterprise (L.P.), Ace Battery Co., Ltd, Dongying Zhuoyu Equity Investment Center (Limited Partnership), Huang Weishan and Gao Yanshu.

The transaction was approved by the board of directors of Malion New Materials Co., Ltd at its 28th meeting of the 4th board of directors and the 24th meeting of the 4th board of supervisors. The funding will be raised at a pre-money valuation of CNY 1,838,600,000.