Mitejia (Shanghai) Food Technology Co., Ltd. announced that it will receive CNY 42,302,200 in an equity round of funding on August 9, 2021. The transaction will include participation from new investor Nanjing Fanqie No. 7 Equity Investment Partnership (Limited Partnership), a fund managed by Ningbo Fanqie Investment Management Co., Ltd. for CNY 21,151,100 for 5.04% stake and existing investor Shandong Head Co.,Ltd. for CNY 21,151,100 for 2.01% stake in the company.

Pursuant to the transaction, CNY 5,600,000 will go to registered capital and CNY 36,702,200 will go towards capital reserve. Post completion of the transaction, Shandong Head Co.,Ltd.'s stake will increase to 32.01%. The transaction has been approved at the 15th meeting of the 8th board of directors of the investor.