Tianjin Renrenle Commodity Distribution Co., Ltd. announced that it will receive CNY 250,000,000 in an equity round of funding on March 31, 2022. The transaction includes participation from returning investor Renrenle Commercial Group Co.,Ltd. to retain 100% stake in the company. The transaction took place through capital increase method.

The registered capital of the company will increase from CNY 50,000,000 to CNY 300,000,000. The transaction is approved by board of directors in the fifth session of the Board of Directors and does not need to be submitted to the company's general meeting of shareholders for consideration and approval.