Zhejiang Xinlong Industry Co., Ltd. announced that it will raise CNY 75 million in a equity round of funding on December 9, 2022. The transaction includes participation from Zhejiang XCC Group Co.,Ltd for 100% stake of the company. The transaction was approved by board of directors in its 12th session of the company?s 4th directorate and in 5th session of the company?s 4th directorate.

The company's registered capital will increases from CNY 43,080,000 to CNY 118,080,000.