Jilin Linglong Tyre Co., Ltd. announced that it will receive CNY 750,000,000 in an equity round of funding from returning investor Shandong Linglong Tyre Co.,Ltd. on March 17, 2023. The transaction was approved by the board of directors of Shandong Linglong Tyre Co.,Ltd., parent of the company at its 7th session of 5th directorate and 6th session of 5th supervisory board. Post to the closing, the registered capital of the company will increase from CNY 500,000,000 to CNY 725,000,000 and remaining CNY 525,000,000 raised in the transaction, will go in capital reserve.

The investor will retain 100% stake in the company.