Shanghai Chijinxia Tungsten Metal Resources Co., Ltd. announced that it has raised CNY 173.4 million in a round of funding on December 27, 2023. The transaction included participation from returning investors, Chifeng Jilong Gold Mining Co.,Ltd for CNY 204,000,000 and hold 51% stake in the company and Xiamen Tungsten Co.,Ltd for CNY 196,000,000 and hold 49% stake in the company. The company's registered capital will increase from CNY 226.6 million to CNY 400 million.

The transaction has been approved in the 24th meeting of it's eighth board of directors, and the transaction does not need to be submitted to the shareholders' meeting for review.