Shandong Fengyuan Lithium Energy Technology Co., Ltd announced that it will receive CNY 310,000,000 in a round of funding from returning investor Shandong Fengyuan Chemical Co., Ltd. on July 2, 2021. The company will issue common shares in the transaction. The transaction will include participation from returning investor Shandong Fengyuan Chemical Co., Ltd. Post the closing of the transaction, the investor will continue to hold 100% stake in the company and the registered capital of the company will increase from CNY 200,000,000 to CNY 510,000,000. The transaction was approved in the the 8th session of the investor’s 5th directorate.