Suzhou ReTek Mechanical-Electrical Co.,Ltd announced it has signed a capital increase intent agreement for private placement of not more than CNY 100 million on December 29, 2021. The transaction will include participation from returning investor Shenzhen Cotran New Material Co.,Ltd. which will increase its stake from 55% to not more than 67% and Yue Guodong, Wu Xidong, Xu Jian will give up their capital increase rights.