Wuxi Huipao Sports Co., Ltd. announced that it will received CNY 12,500,000 in an equity round of funding on April 21, 2021. The transaction included participation from new investor Xi'an Qujiang Cultural Tourism Co., Ltd. with an investment of CNY 12,500,000 for an equity stake of 10%, out of which CNY 1,111,111.11 will be for capital increase and CNY 11,388,888.89 for capital reserve. The company's registered capital will increase from CNY 10,000,000.00 to CNY 11,111,111.11. The transaction has been reviewed and approved at the second meeting of the ninth board of directors and the second meeting of the ninth board of supervisors, and independent directors have expressed their consent on the matter.