Hangzhou Xingyuan Environmental Protection Equipment Co.,Ltd. announced that it has raised CNY 500 million in an equity round of funding on October 13, 2023. Xingfeng Guoxin will invest CNY500 million in Xingyuan Environmental Protection, of which, CNY287.83 million will be added as registered capital, the remaining CNY212.17 million will be added as capital reserve. The company will give up its subscription rights.

After the capital increase, Xingyuan Environmental Protection?s registered capital will increase from CNY380 million to CNY667.83 million, with the company?s stake decreasing from 100% to 56.90%.