Ningxia Zerui New Energy Co., Ltd. announced that it will receive CNY 80 million in an equity round of funding on October 27, 2023. The transaction included participation from returning investor Ningxia Jiaze Renewables Corporation Limited to retain the majority stake in the company. This has been approved in the 25th session of the company?s 3rd directorate.

Post-completion, the registered capital of the company will increase from CNY 10 million to CNY 90 million. The transaction needs to be approved in the shareholders? meeting.