Ningbo Chuanfeng Supply Chain Management Co., Ltd. announced that it will receive CNY 42 million in equity round of funding on December 18, 2021. The transaction will include participation from existing investor Ningbo Joy Intelligent Logistics Technology Co.,Ltd. to retain its 100% stake. Upon closing, the registered capital of the company will increase from CNY 32 million to CNY 80 million.

The transaction has been approved in the 16th meeting of the second board of directors and the 9th meeting of the second board of supervisors of the investor.