Zhuhai Huazheng New Materials Co., Ltd announced that it will receive CNY 130 million in a round of funding on January 7, 2022. The transaction included participation from Zhejiang Huazheng New Material Co., Ltd. The transaction has been approved by the board of directors in its 21st meeting of the 4th board of directors and the 20th meeting of the 4th board of supervisors and does not need to be submitted to the company's general meeting of shareholders for consideration. The registered capital of company has increased from CNY 120 million to CNY 250 million.

After the completion of the transaction, the investor will holds 100% of the equity of the company.