Hailide (Hong Kong) Investment Holding Co., Ltd. announced that it will receive $50,000,000 in an equity round of funding on July 11, 2022. The transaction will include participation from returning investor Zhejiang Hailide New Material Co.,Ltd and will retain its 100% stake in the company. After the completion of this capital increase, the registered capital of the company will be increased from $80,600,000 to $130,600,000.

The transaction was approved at third meeting of the eighth session of the board of directors of the investors and does not need to be submitted to the company's general meeting of shareholders for deliberation.