Huizhou Foryou General Electronics Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 413,507,400 on August 17, 2023. The transaction will include the participation from existing investor Foryou Corporation owning 83.50% stake and 87.12% stake post completion. The company's registered capital is HKD 151,000,000.

Post the closing of the transaction, the registered capital of the company will increase from HKD 43,037,949 to HKD 194,037,949. The transaction has been approved by the investor at its the 8th session of the company?s 4th directorate.