Shanghai Xinhe Zhihui Computer Technology Co., Ltd. announced that it has signed a purchase agreement to receive CNY 200 million in a equity round of funding on May 12, 2024. The transaction will include participation from new investor Wuhan Nusun Landscape Co., Ltd. for 51% stake in the company. The registered capital of the company is CNY 200 million.

This has been approved in the 24th meeting of the Fourth Board of Directors of Wuhan Nusun Landscape Co., Ltd. The transaction is within the approval authority of the Wuhan Nusun Landscape Co., Ltd.'s board of directors and does not need to be submitted to the shareholders' meeting for review. Within two months from the date of signing the agreement, Wuhan Nusun Landscape Co., Ltd shall invest CNY 50 million in the company. Within four months from the date of signing this agreement, Wuhan Nusun Landscape Co., Ltd shall invest an additional RMB 50 million in the company.

Wuhan Nusun Landscape Co., Ltd?s investment is based on a fully diluted pre-investment valuation of CNY 233 million for the company, after which Wuhan Nusun Landscape Co., Ltd will acquire 30% of the equity of the company. Within 16 months from the date of signing the agreement, Wuhan Nusun Landscape Co., Ltd shall make an additional investment of CNY 100 million or more, and acquire 51% stake in the company.