Silead Inc. announced a private placement to receive gross proceeds of CNY 74,875,500 in an equity round of funding on August 27, 2021. The proceeds of CNY 22,000,000 will go towards registered capital and 52,875,500 into capital reserve. The transaction will include participation from returning investor, GigaDevice Semiconductor (Beijing) Inc. The registered capital of the company will increase from CNY 130,000,000 to CNY 152,000,000. The transaction has been approved at the 28th meeting of the 3rd board of directors and 26th meeting of the third board of supervisors. The transaction do not require the approval of the company's general meeting of shareholders.