Suzhou Wutong Smart Electronics Co., Ltd. announced that it will receive CNY 30 million in an equity round of funding on October 26, 2022. The transaction will included participation from new investor Wutong Holding Group Co., Ltd. for CNY 24 million and Pei Zhonghui for CNY 6 million. The transaction has been approved and reviewed in the twentieth meeting of the fourth board of directors and the twentieth meeting of the fourth board of supervisors.

After the completion of the transaction, registered capital will be increased from CNY 20 million to CNY 50 million. After completion of the transaction, the investor will acquire 80% stake and 20% stake in the company respectively.