Zhongshan Xinyichang Automation Equipment Co., Ltd. announced a private placement to issue common shares for the gross proceeds of CNY 90,877,900 on January 23, 2024. The transaction will include participation from returning investor Shenzhen Xinyichang Technology Co., Ltd. who has 100% stake in company. The registered capital of the company is CNY 151,000,000.

The CNY 10,000,000 will go to the registered capital of Zhongshan Xinyichang, and the remaining 80,877,900 will go to the capital reserve of Zhongshan Xinyichang. After this capital increase, the registered capital of Zhongshan Xinyichang will be changed from CNY 151,000,000 to CNY 161,000,000. The company will still hold 100% of the equity of Zhongshan Xinyichang.

The company held the 16th meeting of the second board of directors and the 13th meeting of the second board of supervisors.