Jiangsu Phoenix New Cloud Network Technology Co., Ltd. announced that it will receive CNY 180,318,900 in an equity round of funding through capital increase from retuning investor Jiangsu Phoenix Publishing & Media Corporation Limited on October 28, 2022. The transaction has been approved at 3rd meeting of the 5th board of directors and does not need to be submitted to the company's general meeting of shareholders for deliberation. After the completion of the capital increase, the registered capital of company will CNY 250 million and Jiangsu Phoenix Publishing & Media Corporation Limited stake in the company will get increase from 90% to 96%.