Jiuquan Narada Power Co., Ltd. announced that it will receive CNY 200 million in an equity round of funding on December 25, 2023. The transaction will include participation from returning investor, ZHEJIANG NARADA POWER SOURCE Co. Ltd. After the completion of this capital increase, the investor will still hold 100% equity of company.

The company registered capital will increase from CNY 100 million to CNY 200 million. The transaction has been reviewed and approved by the 22nd meeting of the 8th board of directors of the investor.