Shanghai Songz Automotive Technology Co., Ltd. announced that it will receive CNY 50 million in equity round of funding on August 29, 2022. The transaction will include participation from existing investor Songz Automobile Air Conditioning Co., Ltd. to retain its 100% stake. Upon closing, the registered capital of the company will increase from CNY 110 million to CNY 160 million.

The transaction has been approved in the 11th meeting of the 5th Board of Directors.