Yueyang Rainbow Department Store Co., Ltd. announced that it will raise CNY 49,000,000 in an equity funding on November 16, 2023. The transaction will include participation from returning investor, Rainbow Digital Commercial Co., Ltd. The transaction has been approved at the19th meeting of the sixth board of directors. Upon the completion of the transaction, the company's registered capital will increase from CNY 10,000,000 to CNY 59,000,000.