Transfar Group Finance Co. Ltd. entered into a capital increase and share expansion agreement to receive CNY 500,000,00 in an equity round of funding on December 5, 2023. The transaction will include participation from returning investors, Transfar Group Co., Ltd. for CNY 375,000,000 to maintain its 75% stake and Transfar Zhilian Co., Ltd. for CNY 125,000,000 to maintain its 25% stake.

The registered capital of the company will increase from CNY 500,000,000 to CNY 1,000,000,000 post-completion of the transaction. The transaction has been approved at the 10th meeting of the 8th board of directors and 8th meeting of the 8th board of supervisors and the 1st special meeting of independent directors of the 8th board of directors in 2023 of Transfar Zhilian Co., Ltd.