Hangzhou Jiexijia Machinery Co., Ltd. announced that it will receive CNY 15,682,100 in equity round of funding on October 11, 2021. The transaction will include participation from existing investor Zhejiang Cfmoto Power Co.,Ltd to hold 51.03% stake. Upon closing, the registered capital of the company will increase from CNY 5,000,000 to CNY 10,210,000.

The transaction was approved by the board of directors of the investor at its 29th meeting of the 4th Board of Supervisors and 29th meeting of the 4th Board.