Chengdu Renrenle Commodity Distribution Co., Ltd. announced that it will receive CNY 200,000,000 in an equity round of funding on March 31, 2022. The transaction will include participation from returning investor, Renrenle Commercial Group Co.,Ltd. to hold 100% stake in the company. After the capital increase, the registered capital of the company will increase from CNY 50,000,000 to CNY 250,000,000.

The transaction has been approved at the 21st meeting of the 5th session of the board of directors and does not need to be submitted to the company's general meeting of shareholders for consideration and approval.