Chongqing Deyang International Trade Co., Ltd. announced that it will receive CNY 150 million in an equity round of funding on June 13, 2023. The transaction will include participation from existing investor, Qingdao Huijintong Power Equipment Co.,Ltd and Zeng Xiang. The transaction has been approved in the thirteenth meeting of the fourth board of directors.

Before the capital increase, Qingdao Huijintong Power Equipment Co.,Ltd. for CNY 24 million and 80% stake and Zeng Xiangxian for CNY 6 million and 20% stake. Post completoin, Qingdao Huijintong Power Equipment Co.,Ltd. for CNY 74.703737 million and 92.5654% stake and Zeng Xiangxian for CNY 6,000,000.00 and 7.4346% stake. Among the capital contribution,CNY 50.7037 million was included in the paid-in capital and CNY 99.2963 million was included in the capital reserve of Deyang International company.

After the capital increase is completed, the registered capital of Deyang International will increase to CNY 80.7037 million.