Zhejiang Ningyin Consumer Finance Co., Ltd. announced that it will raise in an equity funding on April 8, 2024. The transaction will include participation from new investor, Ningbo Financial Holdings Co., Ltd. for 20% stake and returning investor, Bank of Ningbo Co., Ltd. will invest CNY 1,226 million and will reduce its stake to 75.33%. Upon the closing, the company's registered capital will increase to CNY 4,500 million.

The transaction has been approved at the sixth meeting of the eighth board of directors and the third special meeting of the independent directors of the eighth session of the board of directors, and all independent directors unanimously agreed to submit the matter to the board of directors for review. The transaction is This joint capital increase is subject to approval by relevant departments before it can be implemented, and there is a certain degree of uncertainty.