Shanghai ChipON Micro-Electronic Co., Ltd. announced a capital increase agreement to receive $29,353,100(CNY 190,000,000) on February 26, 2021. The transaction will include participation from new investor, Wanxiang Qianchao Co.,Ltd. (SZSE:000559) for $7,724,500(CNY 50,000,000) for 1.97% stake, SME Development Fund (Shaoxing) Equity Investment Partnership Enterprise (Limited Partnership) for$10,814,300(CNY 70,000,000) for 2.76% stake, Ningde Jiaocheng Shangqi Industry Upgrade Equity Investment Partnership Enterprise for $7,724,500(CNY 50,000,000) for 1.97% stake, and Hangzhou Sanhua Hongdao Venture Capital Partnership Enterprise (Limited Partnership) for $3,089,800(CNY 20,000,000) for 0.79% stake in the company. The current registered capital of the company is $23,867.1601(CNY 9,982,904). The transaction has been approved at the 1st session of the 9th directorate of Wanxiang Qianchao Co.,Ltd. (SZSE:000559).