Sichuan Em Technology Group Chengdu New Materials Co., Ltd. announced that it will receive CNY 590 million in equity round of funding on November 30, 2022. The transaction will include participation from returning investor Sichuan Em Technology Co., Ltd. to retain 100% stake. As a part of the transaction, the registered capital of the company will increase from CNY 300 million to CNY 890 million.

The transaction has been approved in the thirty-first meeting of the fifth board of directors and the twenty-sixth meeting of the fifth board of supervisors and still needs to be approved by extraordinary general meeting of shareholders in 2022 for consideration and approval.