Novus Power Equipment Co., Ltd announced that it will receive THB 40,000,000 in its equity round of funding on October 23, 2023. The transaction included participation from returning investor Weima Agricultural Machinery Co.,Ltd. for THB 39,600,000 for 99% stake, new investors Weima Agricultural Machinery (Wuxi) Co., Ltd. for THB 200,000 for 0,5% stake and Chongqing Weima New Energy Technology Co., Ltd. for THB 200,000 for 0.5% stake. The registered capital of the company will increase from THB 160,000,000.00 to THB 416,000,000.00.

The transaction has been approved in the 19th meeting of the Weima Agricultural Machinery Co.,Ltd. in its 2nd Directorate and the 11th meeting of the 2nd supervisory board and does not need the shareholders? approval.