Leyard announced on the night of the 14th that its wholly owned subsidiary Beijing Virtual and Moving Point Technology (hereinafter referred to as BVMPT) will increase in investment in order to actuate the development of future businesses.

The public announcement indicates that BVMPT plans to increase its registered capital from RMB 60 million to RMB 69.3566 million. A total of 14 individuals will be participating in this contribution, among which Li Jun, Chairman of Leyard, will be subscribing RMB 5.3256 million of registered capital from BVMPT with RMB 82.7225 million.

Leyard will hold 86.51% of BVMPT’s shares instead of 100% after the completion of the capital increase, and the latter will remain as a holding subsidiary within the scope of the consolidated statement for Leyard.

Founded in 2019, BVMPT primarily operates businesses of VR experience, and has currently commenced the process of independent development. Leyard has been propelling the listing procedure of BVMPT since the start of this year, and will be declaring next year in accordance with the policy status.

Leyard commented that this increase in investment will help to reinforce the capital strength of BVMPT, and provide financial support in business expansion and item R&D. This increase in investment will also introduce an employee holding platform that will facilitate the establishment of a long-term incentive mechanism, fully mobilize the activeness of the management team and core staffs, as well as guarantee for a continuous healthy development.

Leyrad will further refine the arrangement on VR experience businesses through this increase in investment and the independent listing of BVMPT in the future, which will help with the company in expanding on financing channels, as well as better prepare the company in the VR experience field.

(Organized by LEDinside)