Wuhan Huafenghuizhong Technology Co., Ltd. announced that it will receive CNY 12 million in equity round of funding on August 18, 2022. The transaction included participation from new investor Guangzhou Risong Intelligent Technology Holding Co., Ltd. to hold 20% stake in the company. After the completion of the transaction, the registered capital of the target company will be CNY 1,293,104 and existing shareholder stake will decrease, Liu Yuqi from 30% to 24%, Huabo Zhongcheng Technology Consulting (Wuhan) Partnership (Limited Partnership) from 50 % to 40%, and Huabo Zhongzhi Technology Consulting (Wuhan) Partnership (Limited Partnership) from 20% to 16%.

The transaction has been reviewed and approved at the second meeting of the third board of directors of the company, and does not need to be submitted to the company's general meeting of shareholders for deliberation, nor does it require approval from relevant government departments.