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WeiNeng has officially declared the conclusion of its Series C3 equity financing, securing a substantial sum of RMB 1 billion. With this latest infusion, the total funds raised in the Series C round have soared to nearly RMB 2 billion. Beyond the continued support from its founding shareholders and the strategic inclusion of several state-owned capital entities, this funding round has also successfully drawn in two pivotal new investors: Hefei Construction Investment and Hefei Economic Development. The capital will be judiciously allocated to key areas, including the expansion of battery asset management operations, technological R&D endeavors, and resource recycling initiatives. This strategic move is aimed at elevating service standards, fortifying the company's operational capabilities, and expediting the commercialization of its scientific research breakthroughs.
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