Richen Foods (Tianjin) Co., Ltd. announced that it will receive CNY102 million in an equity round of funding through capital increase on February 27, 2023. The transaction included participation from retuning investors Qingdao Richen Food Co.,Ltd. and Xiabuxiabu (China) Food Co.Ltd for CNY 51 million by each to retain 50% holding by each. After the completion of transaction, registered capital will increase from CNY 98 million to CNY 200 million.

The transaction has been approved at 9th session of the company's 3rd directorate.