Zhejiang Yuedu Network Technology Co., Ltd. announced that it will receive CNY 20 million in an equity round of funding from returning investor Nacity Property Service Group Co., Ltd. on April 16, 2022. Out of the total gross proceeds, CNY 10 million will go into registered capital and CNY 10 million will go into capital reserve. Post closing, the registered capital of the company will increase from CNY 15 million to CNY 25 million and the investor will continue to hold 100% stake in the company.

The transaction was approved by the second meeting of the third board of directors and the second meeting of the third board of supervisors of the investor, and does not need to be submitted to the general meeting of shareholders for deliberation.