Qingdao Rainbow Agro Co., Ltd. announced that it would receive CNY 115,690,000 in an equity round of funding from returning investor Shandong Weifang Rainbow Chemical Co., Ltd on August 24, 2021. The registered capital of the company will increase from CNY 91,200,000 to CNY 200,000,000 including to fund subscribed registered capital of the company which was not yet been actually paid and CNY 27,490,000 will be used to increase capital. The transaction was approved at the 22nd meeting of the third board of directors and the 12th meeting of the third board of supervisors and independent opinions of independent directors of investor's on matters related to the 22nd meeting of the third board of directors.

After the capital increase is completed, Shandong Weifang Rainbow Chemical Co., Ltd and Runke International Trade Co., Ltd. will hold 91.21% and 8.79%, respectively.