Shenzhen iBD Intelligence Technology Co., Ltd announced that it will receive CNY 5,000,000 in an equity round of funding on January 14, 2021. The transaction will include participation from new investor Zhong Fu Tong Group Co., Ltd. (SZSE:300560). Out of the total proceeds CNY 400,000 will go towards registered capital and remaining CNY 4,600,000 will go towards capital reserve. The company has entered into equity acquisition intention and capital increase agreement. The capital increase price is determined after negotiation between the two parties in conjunction with the target company’s future growth and future performance commitments. Post transaction the investor will hold 70% stake in the company. The registered capital of the company will increase from CNY 2,000,000 to CNY 2,400,000.