Jiangsu New Zhongzhou Special Alloy Materials Co., Ltd. announced that it will raise CNY 70,743,400 in an equity round of funding on February 23, 2023. The transaction will include participation from returning investor, Shanghai Zhongzhou Special Alloy Materials Co., Ltd. The company's registered capital will increase from CNY 135,179,200 to CNY 205,922,600. The transaction has been approved by the 3rd meeting of the company's 4th directorate and the 3rd meeting of the company's 4th supervisory board.

The transaction is still subjected to approval from the company's shareholders.