Guiyang Dawei New Materials Co., Ltd. announced that it will receive CNY 90 million in equity round of funding on September 21, 2023. The transaction included the participation from existing investor Shenzhen Dawei Innovation Technology Co., Ltd. hold 100% stake. The registered capital is increased from CNY 10,000,000 to CNY 100,000,000.

The company held that the transaction has been approved at the 7th meeting of the 6th board of directors and does not need to be submitted to the company's general meeting of shareholders for review.