Shandong Fuyuan New Material Technology Co., Ltd. announced that it will receive funds in an equity round of funding on October 27, 2022. The transaction will include participation from Shanghai Emperor of Cleaning Hi-Tech Co., Ltd to retain 100% stake in the company. The transaction has been reviewed and approved at the 17th session of its 4th directorate of the investor.

Post to the transaction, the registered capital of the company will increase to CNY 66,000,000.