LN Hospitality Management Co., Ltd. announced that it will receive CNY 40,000,000 in an equity round of funding on December 12, 2023. The transaction will include participation from returning investor Guangzhou Lingnan Group Holdings Company Limited to retain the majority stake in the company. The registered capital of the company is CNY 10,000,000.

The registered capital of the company will increase from CNY 10,000,000 to CNY 50,000,000. This has been approved in the 2nd Meeting of the Company?s 11th Directorate. The transaction does not need the Shareholders?

Approval. If within 90 working days from the investment, the company has not completed the change of business registration procedures, the investment will be cancelled and the company shall return the investment.