Huangshan Fule New Energy Technology Co., Ltd. announced that it would receive CNY 40,400,000 in an equity round of funding on December 13, 2021. The transaction will include participation from Hangzhou Star Shuaier Electric Appliance Co., Ltd. for CNY 20,400,000 to retain its 51% stake, Huangshan Genleyuan Enterprise Management Partnership Enterprise (Limited Partnership) for 2,254,400 to retains its 5.635% stake and Wang Chunxia and Huangshan Genleyuan Enterprise Management Partnership (Limited Partnership) for CNY 17,346,000 to retain its 43.365% stake in the company. After completion of the transaction, the company registered capital will increase from 10,000,000 to 50,000,000.

The transaction has been approved in the fourteenth meeting of the fourth board of directors and 13th meeting of the 4th board of supervisors of Hangzhou Star Shuaier Electric Appliance Co., Ltd. and does not need the investors shareholders' approval.