Shanghai Tianqian Food Co., Ltd. announced that it will receive CNY 160 million in an equity round of funding on April 6, 2022. The transaction includes participation from returning investors, TianYu Eco-Environment Co., Ltd. for CNY 120 million to retain its 75% stake and Luo Weiguo for CNY 40 million to retain its 25% stake in the company. The registered capital of the company will increase from CNY 140 million to CNY 300 million post closing of the transaction.

The transaction has been approved at the 41st meeting of the third board of directors of TianYu Eco-Environment Co., Ltd.