Suli (Ningxia) New Material Technology Co., Ltd. announced that it will raise CNY 149,880,936.25 in an equity funding on December 15, 2023. The transaction will include participation from returning investors, Suli Co., Ltd. for CNY 113,909,511.55 for 76% stake and Oxon Asia srl for CNY 35,971,424.70 for 24% stake. The transaction has been approved at the 17th meeting of the fourth board of directors.

After the transaction, Suli (Ningxia) New Material Technology Co., Ltd.'s registered capital will increase from CNY 500,000,000 to CNY 550,000,000. The company is expected to close the transaction within three months from the effective date of this agreement.