BWT Beijing Ltd. announced that it will issue 16,340,900 common shares for CNY 28.6 per common share for total gross proceeds of CNY 467,349,740 in equity round of funding on June 20, 2022. The transaction will include participation from new investors Linewell Software Co., Ltd. for 4,260,000 common shares and 5.3692% stake, Beijing Shuimu Shaohua Technology Development Partnership (Limited Partnership) for 1,147,400 common shares, for 1.4462% stake, and individual investor Mr. Chen Xiaohua for 10,628,900 common stock and 74.2897% stake and Mr. Zhao Hongfei for 304,600 common shares. The transaction has been approved in the nineteenth meeting of the fourth session of the board of directors.

The round will be raised at pre-money valuation of CNY 1,801,800,000.