Zhejiang Huayou Posco New Energy Materials Co., Ltd announced that it will receive CNY 1,445,320,000 in an equity round of funding on January 19, 2022. The transaction will include participation from Zhejiang Huayou New Energy Technology Co., Ltd. for CNY 867,190,000, new investor Posco Chemical Co., Ltd. for CNY 578,130,000. Pursuant to the transaction, the registered capital of the company will increase from CNY 336,000,000 to CNY 1,781,320,000.

Post completion of the transaction Zhejiang Huayou New Energy Technology Co., Ltd. will hold 60% and, Posco Chemical Co., Ltd. will hold 32.46% in the company.