Favored Nano Technology (Shenzhen) Co., Ltd. announced that it will receive CNY 290,000,000 in an equity round on August 11, 2022. The transaction will include participation from returning investor, Jiangsu Favored Nanotechnology Co., Ltd to retain 100% stake in the company. Of the total proceeds, CNY 90,000,000 will go towards registered capital and CNY 200,000,000 will go towards capital reserve.

The transaction has been approved in tenth meeting of the first board of directors and the eighth meeting of the first board of supervisors of the investor. The registered capital of the company will increase from CNY 10,000,000 to CNY 100,000,000.