Jinlan Power Semiconductor (Wuxi) Co., Ltd. announced that it will receive an equity round of funding on December 29, 2022. The amount raised in the transaction shall not exceed CNY 82,352,941. The transaction will include participation from Wuxi NCE Power Co., Ltd. The transaction was approved by the board of directors of the company at its seventh meeting of the fourth directorate.

The transaction still needs to be submitted to the general meeting of shareholders for consideration. After completion of the transaction, the registered capital of the company will increase to no more than CNY 200,000,000.