Dinglong (Qianjiang) New Materials Co., Ltd. announced that it will receive CNY 140,000,000 in equity round of funding on December 22, 2023. The transaction include the participation from new investors Ningbo Jinghe Enterprise Management Partnership Enterprise (Limited Partnership) for CNY 15,000,000 and will hold 10% stake in the company, Ningbo Baicheng Enterprise Management Partnership Enterprise (Limited Partnership) for CNY 15,000,000 and will hold 10% stake in the company, Hainan Dongye Investment Co., Ltd. for CNY 7,500,000 and will hold 5% stake in the company and returning investor Hubei Dinglong Co., Ltd for CNY 102,500,000 and will hold 75% stake in the company. The registered capital is increase from CNY 10,000,000 to CNY 150,000,000.

After this increase in capital, the company?s stake will reduce from 100% to 75%. The transaction has been approved by the company?s 5th directorate during its 14th meeting and does not require approval by shareholders? meeting of the company.