Wanxiang Qian Chao (America) Co., Ltd. announced that it will receive CNY 50,000,000 in an equity round of funding from returning investor Wanxiang Qianchao Co.,Ltd. on July 27, 2021. On closing, the investor retains its 100% stake in the company. The transaction was approved by the board of directors of the investor in its second extraordinary meeting of the ninth board of directors of the company.

The transaction does not need approval from the shareholders.