Zhejiang Jisheng New Materials Co., Ltd. announced that it will receive an equity round of funding on January 28, 2022. The transaction will include participation from Zhejiang Changsheng Sliding Bearings Co., Ltd. to obtain 60% stake in the company. Post completion of the transaction, the registered capital of the company will be CNY 100,000,000 of which CNY 60,000,000 will be owned by the investor.