Liyang Zichen New Materials Technology Co., Ltd announced that it will receive CNY 100,000,000 in an equity round of funding on January 4, 2021. The transaction will include participation from returning investor, Shanghai Putailai New Energy Technology Co., Ltd. to retain 100% stake in the company. The transaction has been approved at the 22nd meeting of the 2nd board of directors of the investor, and does not need to be submitted to its general meeting of shareholders. Post to the transaction, the registered capital of the company will increase from CNY 270,000,000 to CNY 370,000,000.