Chengdu Silan Semiconductor Manufacturing Co., Ltd announced a private placement of CNY 110,000,000 on August 14, 2020. The transaction will involve participation from existing investor, Hangzhou Silan Microelectronics Co., Ltd (SHSE:600460). The company will issue common stock in the transaction. On closing, the investor retains its 100% stake in the company. Pursuant to the transaction, the registered capital of the company will increase from CNY 700,000,000 to CNY 810,000,000. The transaction has been approved by the board of directors of Hangzhou Silan Microelectronics Co., Ltd (SHSE:600460) in its 13th meeting of the seventh directorate.