Xinchen New Materials completed a B1 round of financing of nearly 100 million yuan to help build production capacity and expand the market

Recently, Anhui Xinchen New Materials Co., Ltd. successfully completed a B1 round of financing of nearly 100 million yuan. This round of financing was jointly invested by 5Y Capital, China Science and Technology Star and Hefei Innovation Investment. The funds raised will be mainly used to expand production capacity, develop new products and expand the market. Previously, the company had received investments from multiple institutions such as Jinrui Group, Xiaomi Industrial Investment and Oriental Fortune Capital in 2022.