Baobi New Energy announced that it has raised CNY 500 million in a round of funding on May 30, 2023. The transaction included participation from new strategic investors and industrial capitals, including Huamei International Investment Group Co., Ltd., Nio Capital, Eastern Bell Venture Capital, Rockets Capital, Xiaofanzhuo, returning investor BaoBi Fund, several listed companies in the PV industry chain, Shanghai Eliansy Industry Group Corporation Limited, and others.