Cloud Live Tech Group (Gaoyou) New Energy Technology Co., Ltd. announced that it entered into purchase agreement, and it will raise CNY 140 million in an equity round of funding on April 18, 2023. The transaction include participation from returning investor Cloud Live Technology Group Co.,Ltd for 53.46% stake and new investor Gaoyou Hengneng Industrial Investment Partnership (Limited Partnership) for 22.01% stake for CNY 70 million each respectively. The company's registered capital will increase from CNY 178 million to CNY 318 million.

The capital increase agreement still needs to be approved by the relevant departments of Gaoyou City.