Liaoning Zhenhua Petroleum Pipeline Storage and Transportation Co., Ltd. announced that it will raise CNY 1,073.8 million in an equity round of funding on September 28, 2023. The transaction will include participation from new investors, China ZhenHua Oil Co., Ltd. for CNY 601.8 million and 51% stake, North Huajin Chemical Industries Co.,Ltd for CNY 354 million and 30% stake and Jinzhou Linggang Industrial Development Co., Ltd. for CNY 118 million and 10% stake post completion of the transaction. The investor, Jinzhou Port Co., Ltd. contributed CNY 106.2 million in the form of Land use rights for 9% stake post completion of the transaction.

The company's registered capital will increase from CNY 5 million to CNY 1,180 million. The transaction has been approved by the board of directors of the company.