Fujian SKSHU New Materials Co., Ltd announced that it will receive CNY 400 million in an equity round of funding on March 20, 2023. The transaction will include participation from existing investor, SKSHU Paint Co.,Ltd. The transaction has been approved at the fifth meeting of the sixth board of directors and does not need to be submitted to the general meeting of shareholders for consideration. Post completion of the transaction, the registered capital of the company will increase from CNY 70 million to CNY 470 million.