Yancheng Yongyue Intelligent Equipment Co., Ltd. announced that it will receive CNY 188,000,000 in a round of funding on August 7, 2023. The transaction will include participation from returning investor Yongyue Science&Technology Co.,Ltd to retain majority stake for CNY 188,000,000. The registered capital of the company will increase from CNY 25,000,000 to CNY 213,000,000. The company will issue common shares in the transaction. The transaction has been approved in the 25th Meeting of the Company?s 3rd Directorate held on August 7, 2023, and does not need the Shareholders? Approval. The company will raise money in tranches.

On the same date, The company received approval for the transaction in the 23rd Meeting of the 3rd Supervisory Board.