Chongqing Southwest Integrated Circuit Design Co., Ltd. announced that it expects to receive CNY 336.5638 million in funding from CETC Acoustic-Optic-Electronic Technology Inc.

Chongqing Southwest Integrated Circuit Design Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 336,563,800 on April 13, 2022. The transaction will include participation from returning investor CETC Acoustic-Optic-Electronic Technology Inc. to retain its 100% stake in the company. The company will add CNY 200,000 as paid-in registered capital, CNY 11,054,300 as the newly added registered capital was, and the rest as capital reserve.

The transaction has been approved at the ninth meeting of the 12th board of directors and the seventh meeting of the 12th board of supervisors of CETC Acoustic-Optic-Electronic Technology Inc.