Dalian Xinde Carbon Material Technology Co., Ltd. announced that it will receive CNY 750 million in an equity round of funding through capital increase from retuning investor Liaoning Xinde New Material Technology Co., Ltd. to retain 100% stake on September 27, 2022. After the completion of this capital increase, the registered capital of company will be increased from CNY 35 million to CNY 785 million. The company will receive funding in multiple tranches within two years according to the project construction capital needs.

The transaction has been approved at 14th meeting of the first board of directors and the 6th meeting of the first board of supervisors and still needs to be submitted to the general meeting of shareholders for deliberation.