Shenzhen Gahua Microelectronics Co., Ltd announced that it expects to receive CNY 90 million in funding from Shenzhen Genvict Technologies Co., Ltd.
May 12, 2021
Share
Shenzhen Gahua Microelectronics Co., Ltd announced that it has signed a letter of intent for the private placement of common shares for gross proceeds of CNY 90,000,000 on May 13, 2021. The transaction will include participation from new investor Shenzhen Genvict Technologies Co., Ltd. (SZSE:002869) for 11.25% stake in the company. Out of the total gross proceeds, CNY 149,808 will go into registered capital, and CNY 89,850,192 will go into capital reserve. Post completion of the transaction, the registered capital of the company will increase from CNY 1,181,818 to CNY 1,331,626.
Shenzhen Genvict Technologies Co., Ltd. is a China-based company principally engaged in the provision of core equipment and solutions for intelligent transportation and Internet of things (IOT). The Company's main products include highway electronic toll collection (ETC) products, path identification products, multi-lane free flow ETC products, vehicle infrastructure cooperative systems, smart parking products and radio frequency identification (RFID)-based IoT identification products. The Companyâs products are mainly applied to intelligent transportation and travel areas such as highways, urban transportation and vehicle management. The Company operates its businesses within the domestic market and to overseas markets.
SHENZHEN GENVICT TECHNOLOGIES CO., LTD. 
