Guangdong Dongyue Chemical Technology Co., Ltd. announced that it will raise CNY 180 million in an equity round of funding on August 29, 2023. The transaction will include participation from new investors Yueyang Xingchang Petro-Chemical Co., Ltd. for CNY 60,000,000, Qingdao Huicheng Environmental Technology Group Co., Ltd. for CNY 400,000,000,Jieyang Dananhai Petrochemical Industrial Zone Guoye Industrial Investment Development for CNY 60,000,000 and Qingdao Huicheng Chemical Co., Ltd. for CNY 60,000,000. The transaction has been approved 7th session of the company?s 16th directorate.

After the capital increase, its registered capital will increase from CNY 400 million to CNY 580 million.