Guangdong Shengyuan Permanent Magnet Material Co., Ltd. announced that it will receive CNY 200 million in loan funding on March 14, 2022. The transaction will include participation from existing investor Rising Nonferrous Metals Share Co.,Ltd. to retain its 100% stake. Upon closing, the registered capital of the company will increase from CNY 100 million to CNY 300 million.

The transaction has been approved in the the third meeting of the eighth board of directors of the investor.