Baotou Yunshengqiang Magnetic Materials Co., Ltd. announced that it will receive CNY 200,000,000 in an equity round of funding on January 13, 2022. The transaction includes participation from returning investor, Ningbo Yunsheng Co., Ltd. to retain 92.9404% stake. The registered capital of the company will increase from CNY 570,000,000 to CNY 785,000,000.

The transaction has been approved by board of directors of Ningbo Yunsheng Co., Ltd. in its eighth meeting of the tenth board of directors and the fifteenth meeting of the tenth board of supervisors.