Ningde Shawu New Energy Materials Co., Ltd. announced that it will receive CNY 500,000,000 in a round of funding on October 28, 2021. The transaction will include participation from returning investor XTC New Energy Materials( Xiamen) Co., Ltd. to retain its 100% stake. On closing, the registered capital of the company will increase from CNY 100,000,000 to CNY 600,000,000.