Sanming Afu Silicon Material Co., Ltd. announced that it will receive CNY 180,000,000 in an equity round of funding on April 24, 2024. The transaction will include participation from existing investor, Quechen Silicon Chemical Co., Ltd. The transaction has been approved by the investor at its 16th meeting of the 4th board of directors and the 16th meeting of the 4th board of supervisors. After the transaction, the registered capital of the company shall increase from CNY 70,000,000 to CNY 250,000,000.

The company will still have 100% stakes in the target company.