Suzhou ReTek Mechanical-Electrical Co.,Ltd announced it has signed a capital increase intent agreement for private placement of CNY 90,130,000 on May 23, 2023. The transaction will include participation from returning investor Shenzhen Cotran New Material Co.,Ltd. which will increase its registered capital from CNY 100,000,000 to CNY 43,362,000, stake from 54.94% to 73.83%. The transaction has been approved by the board of directors of Shenzhen Cotran New Material Co.,Ltd. at its 21st Meeting of the Company’s 3rd Directorate.