AVIC Shaanxi Huayan Aero-Instrument Co., Ltd. announced that it has entered into a capital increase agreement with will receive CNY 50,000,000 in a round of funding on May 27, 2022. The transaction will include participation from returning investors, China Avionics Systems Co.,Ltd. for CNY 40,000,000, Zhonghang Electronic Measuring Instruments Co.,Ltd for CNY 10,000,000. Post the closing, the registered capital of the company will increase from CNY 450,000,000 to CNY 5,000,000,000.

The transaction has been approved at the tenth meeting of the seventh session of the board of directors. Post the closing, the investors will retain their existing stake.