Tianjin Beite Aluminum Alloy Precision Manufacturing Co., Ltd. announced that it will receive CNY 92,000,000 in a round of funding from returning investor Shanghai Beite Technology Co., Ltd. on October 18, 2022. The company will issue common shares in the transaction. Post the closing of the transaction, the registered capital of the company will increase from CNY 50,000,000 to CNY 142,000,000 and the investor will continue to hold 100% stake in the company.

The transaction was approved by the 23rd meeting of the 4th Board of Directors of the investor.