Sichuan Honglin Mining Co., Ltd. announced that it will raise not more than CNY 300 million in an equity round of funding on August 29, 2023. The transaction included participation from returning investor, Shengda Resources Co.,Ltd. for not less than 53% stake. Out of the total capital increase, CNY 166.417447 million will be included in capital surplus and CNY 133.582553 million will be included in registered capital.

Upon the completion of transaction, the company's registered capital will increase from CNY 118.46 million to CNY 252.042553 million. The transaction has been approved at the 24th session of the company?s 10th directorate.