Beijing Huayu Yifeng Technology Development Co., Ltd announced that it will raise CNY 10,000,000 in an equity round of funding on July 21, 2021. The transaction included participation from returning investor Chongqing Wanli New Energy Co., Ltd. The transaction was approved by the board of directors in its 14th meeting of the company’s 9th directorate and 14th meeting of the 9th supervisory board. The transaction does not need the shareholders’ approval. The company registered capital will increases from CNY 100,000 to CNY 10,100,000. The investors will retain 100% stake in the company.