Bingchuan Network (Hong Kong) Company Limited announced a private placement of not more than $10 million in an equity round of funding from returning investor, Shenzhen Bingchuan Network Co.,Ltd. on March 2, 2021. Post closing, investor will retain is 100% stake in the transaction. The capital increase amount will be added to registered capital of the company. The transaction has been approved at the 16th session of the investor's 3rd directorate.