At the same time, all parties have disputed the share of the US$300 million in Series B financing.

In the end, it was decided that Penguin would lead the investment with US$100 million, and Gaoling Capital, GGV Capital, Qiming Venture Partners, and Didi Capital would each invest US$50 million.

After Series B financing, the shares changed to:

Zhang Yida:45.33%

Option pool:5.33%

Huayi Capital:2.67%

Blackshirt Capital: 13.33%

Zhenke Fund: 3.33%

Jinsha River Venture Capital: 6.67%

Matrix Global:6.67%

Penguin Industry Fund: 5.56%

Gaoling Capital:2.77%

GGV Capital:2.77%

Qiming Venture Partners:2.77%

Didi:2.77%

Zhang Yida's shares have further declined, but because of the existence of AB shares, he still firmly controls 89.2% of the voting rights.

When financing, Zhang Yida put forward a requirement, that is, the investment must be received in one go, otherwise the investment will not be accepted.

Ren Yu blushed a little, Zhang Yida was referring to this, and he was probably talking about Penguin's default on investment funds.

He had no choice but to do what Mr. Ma said, so they had no choice but to obey. However, it was a bit shameful in front of the fellow villagers.

The financing amount of US$300 million, equivalent to 1.845 billion yuan, arrived quickly and was credited to Huimin Bicycle's account within a week.

After the money arrived, Zhang Yida breathed a sigh of relief. If it were delayed for a few more days, Huimin Bicycle might not be able to pay next month's salary.

This US$300 million is life-saving money. Huimin Bicycle has expanded too much and the capital chain is extremely tight.

Zhang Yida first remitted an advance payment of 300 million yuan to Fujitec and directly placed an order for 1 million bicycles.

The remaining balance of 700 million yuan will be paid after the manufacturing is completed at Fujitec, the product is inspected and passed, and the product is successfully delivered.

It’s still the old rules, including manufacturing and transportation. After leaving the factory, 700,000 of the bicycles need to be transported to 70 third-tier cities.
Chapter completed!