Guangzhou Jidong Machinery Co., Ltd. announced that it will receive $102,000,000 in an equity round of funding on December 29, 2021. The transaction will include participation from returning investors Guangzhou KDT Machinery Co.,Ltd. for $52,000,000, and KDT MAC (Hong Kong) Limited for $50,000,000. Post closing, the registered capital of the company will increase from $2,000,000 to $104,000,000, the stake of Guangzhou KDT Machinery Co.,Ltd. in the company will change from 52% to 51%, and the stake of KDT MAC (Hong Kong) Limited will change from 48% to 49%.

The transaction has been approved in the 10th meeting of 4th directorate of Guangzhou KDT Machinery Co.,Ltd., and is not subject to its shareholder's approval.