Guangzhou Guangxin Packaging Substrate Co., Ltd. announced that it will receive CNY 1,000,000,000 in an equity round of funding on December 28, 2022. The transaction will include participation from returning investor Shennan Circuit Company Limited to retain its 100% stake in the company. Post completion of the transaction, the registered capital of the company will increase from CNY 500,000,000 to CNY 1,500,000,000.

The transaction has been approved by the board of directors of Shennan Circuit Company Limited in its 20th meeting of 3rd directorate and does not need the shareholders? approval.