Harbin Zhudinggongda New Material Technology Co., Ltd. announced that it will receive CNY 10,000,000 in its equity round of funding from new investor Vanfund Urban Investment and Development Co., Ltd. (SZSE:000638) on February 26, 2021. Post-closing, the investor will hold 40% stake in the company. The total proceeds of which CNY 625,000 will be used to increase the registered capital of the company, and CNY 9,375,000 will be included in the capital reserve of the company. After the completion of the transaction, the registered capital of the target company will increase to CNY 11,250,000. The transaction will complete in two tranches. The first tranche of CNY 5,000,000 shall be paid within 5 working days after the approval of the company’s board of directors and the second tranche of CNY 5,000,000 should be paid no later than March 31, 2021.The transaction has been approved by board of directors of the investors in its 20th meeting of the ninth board of directors. The company and investor have signed capital increase agreement.