Huizhou Phichem New Materials Co., Ltd. announced that it has received CNY 40,000,000 in an equity round of funding on November 22, 2021. The transaction includes participation from returning investor, PhiChem Corporation to maintain its 100% stake in the company. The registered capital of the company has increased from CNY 40,000,000 to CNY 80,000,000. The company completed the registration modification procedures and obtained the business license issued by Market Supervision Administration of Boluo.