Nanjing Haixing Power Grid Technology Co., Ltd. announced that it will receive CNY 450 million in equity round of funding on June 2, 2022. The transaction will include participation from returning investor Hexing Electrical Co.,Ltd to retain 100% stake. After the capital increase is completed, the registered capital of the company will increase from CNY 100 million to CNY 550 million.

The transaction has been approved in the sixth meeting of the fourth board of directors of the investor and does not need to be approved by the company's general meeting of shareholders.