Shandong Huaguang New Material Technology Co., Ltd announced that will raise CNY 580 million in an equity round of funding on November 11, 2022. The transaction will include participation from returning investor, Tongding Interconnection Information Co., Ltd. for CNY 284.20 million and Orient Sunshine Group for CNY 295.80 million. Post the transaction, the stake of the investors will remain the same as prior.

The transaction has been approved by the shareholders of the company in the 20th session of the company?s 5th directorate.