Huhu Health Technology (Hangzhou) Co., Ltd. announced that it will receive CNY 12 million in an equity round of funding on January 24, 2024. The transaction will include participation from new investors, Mingyue Optical Lens Co.,Ltd. for CNY 6 million to subscribe for CNY 146,300 new registered capital for 14.630% stake, Shanghai Mingyue Industrial Co., Ltd. for CNY 3.60 million to subscribe for CNY 87,800 of new registered capital for 8.780% stake and individual investor, Zeng Zhe for CNY 2.40 million to subscribe for new registered capital of CNY 58,500 for 5.850% stake. Out of CNY 12 million, CNY 292,700 will be included in the registered capital, and the remaining funds of CNY 11,707,300 will be included in the capital reserve. The transaction will be carried out in three installments. The final amount of capital contribution and shareholding ratio of each party to the capital increase shall be subject to the actual signed agreement.

The first trance will be carried out within ten working days after the signing of agreement, Mingyue Optical Lens Co.,Ltd. will pay CNY 3 million. The second tranche will be carried out within ten working days after the company completes the agreed business and key personnel indicators within six months from the date of signing the agreement, Mingyue Optical Lens Co.,Ltd. will pay CNY 3 million, Shanghai Mingyue Industrial Co., Ltd. will pay CNY 1 million. The third installment will be carried out within ten working days after the company completes the agreed business and team member targets within twelve months from the date of signing the agreement, Shanghai Mingyue Industrial Co., Ltd. will pay CNY 2.60 million and Zeng Zhe will pay CNY 2.40 million yuan.