Baotou Xuyang New Energy Technology Co., Ltd. announced that it will receive CNY 280.4 million in a equity round of funding on March 29, 2024. The transaction will include participation from returning investors Tianjin Binhai Energy & Development Co.,Ltd for CNY 143 million, and Risun Holding Co., Ltd. for 137.4 million. Post-completion, the registered capital will be CNY 300 million, Tianjin Binhai Energy & Development Co.,Ltd will hold 51%, and Risun Holding Co., Ltd. will hold 49% stake in the company.

This has been approved in the 10th meeting of the 11th board of directors of Tianjin Binhai Energy & Development Co.,Ltd. This transaction still needs to be approved by the Tianjin Binhai Energy & Development Co.,Ltd shareholders? meeting.