Sichuan Wanpeng Times Technology Co., Ltd. announced that it will receive CNY 130,000,000 in an equity round of funding on November 2, 2021. The transaction will include participation from new investors Guizhou Chanhen Chemical Corporation and Sichuan Lanjian Investment Management Co., Ltd. for proceeds of CNY 60,000,000 each, to acquire 30% stake each, and individual investor Chen Yong for proceeds of CNY 10,000,000 to acquire 5% stake in the company. Post closing, the registered capital of the company will increase from CNY 70,000,000 to CNY 200,000,000, and the stake of Yantai Pengyun No. 1 Investment Center (Limited Partnership) in the company will decrease from 85.71% to 30%. The transaction has been approved in the seventh meeting of the third board of directors of Guizhou Chanhen Chemical Corporation, and is not subject to its shareholders' approval. The transaction will close in 3 tranches, with first tranche equal to 20% of the gross proceeds expected to close within 30 days after the completion of the industrial and commercial registration procedures, second tranche equal to 40% of the gross proceeds expected to close within 90 days after the completion of the industrial and commercial change registration procedures, and the third tranche equal to 40% of the gross proceeds expected to close within 180 days after the completion of the industrial and commercial change registration procedures.