Hangzhou Honghua Software Co., Ltd. announced that it will receive CNY 687,934,300 in an equity round of funding on February 8, 2023. The transaction will include participation from returning investor Hangzhou Honghua Digital Technology Stock Company LTD., which will retain its 100% stake in the company. The company will receive funding in multiple tranches.

After the capital increase, the registered capital of company will be increased from CNY 377,000,000 to CNY 1,064,934,300. The transaction has been approved by fifth meeting of the seventh board of directors and the fourth meeting of the seventh board of supervisors, and does not need to be submitted to the general meeting of shareholders for consideration.