Guizhou Batian New Energy Materials Co., Ltd. announced that it will receive CNY 250 million in a round of funding on June 23, 2022. The transaction will include participation from returning investor Shenzhen Batian Ecotypic Engineering Co., Ltd. for CNY 100 million and new investor Guizhou New Kinetic Industry Development Fund Partnership (Limited Partnership), a fund managed by the Guizhou Qiansheng Equity Investment Fund Management Co., Ltd. for CNY 150 million to acquire 42.8571% stake in the company. The stake of Shenzhen Batian Ecotypic Engineering Co., Ltd. will dilute from 100% to 57.1429% after the completion of transaction.

After the capital increase, the registered capital of the company will be increased from CNY 100 million to CNY 350 million. The transaction was approved at 18th meeting of the 7th board of directors of the company and does not need to be submitted to the general meeting of shareholders for deliberation.