Longyou Kelite Machinery Equipment Co., Ltd. announced that it has entered into a investment agreement to raise CNY 24.5633 million in a round of funding on April 18, 2024. The company will issue common shares in the transaction. The transaction will include participation from new investor Zhejiang Linuo Flow Control Technology Co.,Ltd. The investor will hold 51% stake in the company post completion of the transaction.

The transaction has been approved by the board of directors of investor in the 19th meeting of fourth board of directors and the 18th meeting of the fourth board of supervisors.