Ningbo Xinquan Zhihe Auto Parts System Co., Ltd. announced that it has received CNY 50 million in funding from Jiangsu Xinquan Automotive Trim Co.,Ltd.

On January 21, 2019, Ningbo Xinquan Zhihe Auto Parts System Co., Ltd. closed the transaction. The company has completed the relevant change of registry procedures for the transaction and obtained a new business license by the Ningbo Municipal Market Supervision Administration. The company has a registered capital of CNY 100 million.