Zhejiang Communications Construction Group Co., Ltd. announced that it will receive CNY 1,000,000,000 in an equity round of funding on August 27, 2021. The transaction will include participation from returning investors, Zhejiang Communications Technology Co.,Ltd. for CNY 999,900,000 and, Zhejiang Jiangshan Chemical Co., Ltd. for CNY 100,000. Post the closing, the registered capital of the company will increase from CNY 2,228,000,000 to CNY 3,228,000,000.

The transaction will happen in tranches, the first batch of capital increase is CNY 710,000,000, and the remaining CNY 290,000,000 will be in place before the end of 2021. The transaction has been approved at the 5th session of the Zhejiang Communications Technology Co., Ltd 8th directorate.