Xinhua Chemical Co., Ltd. announced that it would receive CNY 70,000,000 in an equity round of funding from returning investor, Zhejiang Xinhua Chemical Co.,Ltd on October 20, 2020. The registered capital of the company will increase from CNY 30,000,000 to CNY 100,000,000. The transaction has been approved in the 4th meeting of the investor’s 5th directorate held on October 16, 2020, and does not need the investors shareholders’ approval.