Huaian Fuyang Electronic Material Co., Limited announced that it will receive CNY 79,536,725.15 in an round of funding on January 16, 2024. The transaction will include participation from returning investor, Long Young Electronic (Kunshan) Co.,Ltd. The transaction has been approved by the shareholders of the company. The company's registered capital is increase from CNY 20,463,274.85 to CNY 100,000,000.

The company will issue non-convertible debt for CNY 66,670,000 and CNY 12,866,725.15 is undisclosed. The transaction has been approved in the 2nd Meeting of the Company?s 2nd Directorate and the 2nd Meeting of the 2nd Supervisory Board and does not need the Shareholders? Approval.