Hangzhou MoreSec Technology Co., Ltd. announced that it will receive CNY 30 million in an equity round of funding on August 14, 2020. The transaction will include participation from Sangfor Technologies Inc. (SZSE:300454). The investor will hold 6.1224% stake in the company post closing of the transaction.

Of the total capital increase, CNY 1.102983 million will be included in the registered capital and the remaining CNY 28.897017 million will be included in the capital reserve of the company. The transaction has been approved by the eleventh meeting of the second directorate of the investor.