Richen Foods (Jiaxing) Co., Ltd. announced that it will receive CNY 200 million in a round of funding on June 21, 2022. The transaction included participation from returning investor Qingdao Richen Foods Co., Ltd. to retain 100% stake in the company. After the completion of this capital increase, the registered capital of Richen Jiaxing will be increased to CNY 300 million.

The transaction has been reviewed and approved by the second meeting of the third board of directors and the second meeting of the third board of supervisors and needs to be submitted to the general meeting of shareholders for deliberation.