Suzhou TFC Star Technology Co., Ltd. announced that it will receive CNY 150 million in a round of funding on June 14, 2024. The transaction will included participation from returning investors, Suzhou TFC Optical Communication Co., Ltd. for CNY 80 million, and Zou Zhinong for CNY 70 million. Post capital increase, the registered capital of the company will increase from CNY 351 million to CNY 501 million.

Post completion of transaction, returning investors Suzhou TFC Optical Communication Co., Ltd. will still own 53.33% stake with the increase in registered capital from CNY 187.2 million to CNY 267.2 million, and Zou Zhinong will still own 46.67% stake with the increase in registered capital from CNY 163.8 million to CNY 233.8 million. The transaction has been approved by the board of director's of the Suzhou TFC Optical Communication Co., Ltd. in its 3rd session of it?s 5th directorate and the 3rd session of it?s 5th supervisory board.