Sinopec Siji Petroleum Machinery Co., Ltd. announced that it has received CNY 292.45 millionin a round of funding on December 12, 2022. The transaction will include participation from returning investor Sinopec Oilfield Equipment Corporation. The company issued common shares in the transaction.

The registered capital of the company is CNY307.55 million. After the capital increase is completed, the registered capital of Siji Company will change from CNY 307.55 million to CNY 600 million and the company still holds 100% equity of Siji company. The transaction has been approved by the board of directors of the company and is still subject to shareholder's approval.