Zhejiang Ruifeng Intelligent IOT Technology Co., Ltd. announced that it will raise a round of funding of CNY 190 million on September 16, 2020. The transaction will include participation from returning investor Zhejiang Risun Intelligent Technology Co.,Ltd (SHSE:688215) to maintain its stake at 100% in the company. The transaction was approved by the 22nd meeting of the second board of directors and the 14th meeting of the second board of supervisors. The registered capital of the company will increase from CNY 20 million to CNY 100.55 million. The funds to be raised consist of CNY 80.55 million paid up capital and CNY 109.45 million as capital reserve.