Changsha Luyuan Nengcai Technology Co., Ltd. announced that it will receive CNY 11,000,000 in an equity round of funding from returning investor Kaiyuan Education Technology Group Co., Ltd. on November 14, 2022. On closing, the investor retains its 100% stake in the company. Post closing, the registered capital of the company will increase from CNY 1,000,000 to CNY 12,000,000.

The transaction was approved by the board of directors of the investor in its thirty-Fourth meeting of the fourth board of directors.