Qujing Defang Nanotechnology Co., Ltd. announced that it will receive CNY 2,300,000,000 in an equity round on June 27, 2022. The transaction will include participation from returning investor, Shenzhen Dynanonic Co., Ltd to retain 100% stake in the company. Out of the total proceeds, CNY 100,000,000 will go towards registered capital and CNY 2,200,000,000 will go towards capital reserve.

Post to the transaction, the registered capital of the company will increase from CNY 100,000,000 to CNY 200,000,000. The transaction has been approved in the 29th meeting of the third board of directors of the investor, does not need to be submitted to its general meeting of shareholders and does not require approval from relevant departments.