Beijing Fushi Jiayi Culture Media Co., Ltd. announced a private placement of 20,000,000 common shares at a price of CNY 1 per share for the gross proceeds of CNY 20 million on March 10, 2023. The company will include participation from returning investors, FS Development Investment Holdings for CNY 7,000,000 representing 35% stake, Shanghai Jiahefu Economic Consulting Partnership for CNY 4,000,000 representing 20% stake, Tiantai County Herong Industrial Co., Ltd. for CNY 2,000,000 representing 10% stake, Taizhou Fudu Enterprise Management Co. Ltd. for CNY 2,000,000 representing 10% stake, Tiantai County Fusheng Trading Co., Ltd. for CNY 2,000,000 representing 10% stake,, Hangzhou Fushi Chuxia Technology Information Co., Ltd. for CNY 3,000,000 representing 15% stake. The transaction has been approved at the 22nd session of the company?s 4th directorate. The registered capital of the company will increase from CNY 10 million to CNY 30 million.

On September 11, 2023, the company announced that it has completed industrial and commercial registration changes and the "Business License" issued by the Beijing Shijingshan District Market Supervision and Administration Bureau has been obtained.