Tibet Baoruolan Technology Co., Ltd. entered into an agreement to raise CNY 2,000,000 in an equity round of funding on October 13, 2023. The transaction will include participation from returning investor, MCLON JEWELLERY Co.,Ltd. for CNY 530,000 revising its stake from 100% to 51%, individual investors, Wu Changfeng for CNY 570,000 for 19% stake and Bao Linjie for CNY 900,000 for 30% stake. The transaction has been approved at the 17th meeting of the company?s 5th directorate and the 16th meeting of the 5th supervisory board.

The transaction is still subject to the shareholders? approval.