Tianneng Power International Limited announced that it will receive CNY 124,902,000 in an equity round of funding on May 26, 2022. The transaction will include participation from new investors, Tianchang Holding Co., Ltd. for CNY 89,215,700 to acquire 35% stake in the company and Zhejian Tianneng Commercial Management Co., Ltd. for CNY 35,686,300 to acquire 14% stake in the company. Upon completion of the transaction, the registered capital of company is increased from CNY 50,000,000 to CNY 98,040,000.

The transaction has been approved by the board of directors.