Zhejiang Xinwei Taike Semiconductor Co., Ltd. announced a private placement of common shares for proceeds of CNY 100 million on July 26, 2022. The transaction will include participation from Shenzhen MinDe Electronics Technology Ltd. The transaction has been approved by the 17th session of the 3rd directorate and the 13th session of the 3rd supervisory board of investor. Out of the total proceeds, CNY 16,666,667 will be added as paid-in capital, CNY 83,333,333 will be added as capital reserve.

After the completion, the investor will own 35.0877% stake in the company. The registered capital of the company is CNY 30,833,333.