ZheJiang NBTM KeDa Magnetoelectricity Co., Ltd. announced that it will receive CNY 220 million in a round of funding on February 9, 2022. The transaction will include participation from NBTM New Materials Group Co., Ltd. The capital increase has been reviewed and approved at the 21st meeting of the seventh board of directors of the company, and this matter does not need to be submitted to the company's general meeting of shareholders for consideration. After the capital increase is completed, the registered capital of company will increase from CNY 30 million to CNY 250 million.