Jiangzuan Petroleum Machinery Co., Ltd. announced that it will receive CNY 100 million in a round of funding on December 12, 2022, The transaction will include participation from Sinopec Oilfield Equipment Corporation. The company issued common shares in the transaction. The transaction has been approved in the 13th session of the company's 8th directorate and the 13th session of the company's 8th supervisory board and is subject to shareholder's approval.

The registered capital of the company is CNY 300 million. Post the capital increase the registered capital increases from CNY 300 million to CNY 400 million. The investor holds 100% stake in the company.