Hainan IReader Technology Co., Ltd announced that it will receive CNY 450,000,000 in a round of funding on September 24, 2021. The transaction will include participation from returning investor IReader Technology Co., Ltd., which will retain its 100% stake in the company. Out of the total proceeds CNY 40,000,000 will go to the registered capital and remaining CNY 410,000,000 will go to capital reserve. Post transaction the registered capital will increase from CNY 10,000,000 to CNY 50,000,000. The transaction has been approved by the board of directors of the investor in its 3rd session of its 3rd directorate and the 3rd session of its 3rd supervisory board.