Jiangxi Baixing Electrical Appliances Co.,Ltd. announced that it will receive CNY 34,844,400 in an equity round of funding on December 14, 2021. The transaction will involve participation from new investor Jiangsu Zhongchao Holding Co., Ltd. for 10% stake in the company. The entire amount will go towards the registered capital of the company.

After the capital increase CNY 491,631 will be included in the registered capital and CNY 34,352,769.0000 in the capital reserve. The transaction has been approved in the twentieth meeting of the fifth board of directors.