Tianjin Huanxin Technology & Development Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 349,480,000 on August 23, 2017. The transaction will include participation from returning investor Tianjin Zhonghuan Semiconductor Co., Ltd. to retain its 100% stake in the company. The registered capital of the company will increase from CNY 270,000,000 to CNY 619,480,000. The transaction has been approved by the board of directors of the investor at its 4th directorate in its 53rd meeting.