Huizhou Woer Technology Development Co., Ltd. announced that it will receive CNY 399 million in an equity round of funding on November 23, 2023. The transaction will include participation from returning investor ShenZhen Woer Heat-Shrinkable Material Co.,Ltd. , and new investor Changyuan Electronic (Dongguan) Co., Ltd. ShenZhen Woer Heat-Shrinkable Material Co.,Ltd. will invest CNY203 million, out of which CNY50 million will be added as registered capital and CNY153 million as capital reserve. Changyuan Electronic (Dongguan) Co., Ltd. will invest CNY 196 million, out of which CNY49 million will be added as registered capital, and CNY147 million as capital reserve.

The registered capital of the company will increase from CNY 1 million to CNY100 million. Post-completion of the transaction ShenZhen Woer Heat-Shrinkable Material Co.,Ltd. will hold 51% stake, and Changyuan Electronic (Dongguan) Co., Ltd. will hold 49% stake in the company.