Shandong Wanhai Cable Co., Ltd. announced that it will receive CNY 300 million in a equity round of funding on March 11, 2024. The transaction will included participation from returning investors Zhejiang Wanma Co., Ltd., to retain the majority stake in the company. This has been approved in the 18th Meeting of the 6th board of directors of the investor's company.

The registered capital of the company is CNY 200,000,000. The registered capital of the company will increase from CNY 200,000,000 to CNY 500,000,000.