Powerway Alloy (HongKong) International Trading Co., Ltd announced that it has raised $50 million in a equity round of funding on October 24, 2024. The transaction included participation from returning investor Ningbo Boway Alloy Material Company Limited to retain its 100% stake in the company. The company's registered capital is increase from $2.57 million to $52.57 million.

The transaction has been approved in fourth meeting of the sixth board of directors.