Anhui Ningci Electronic Technology Co., Ltd. announced that it has entered into a capital increase agreement with new investor Earth-Panda Advanced Magnetic Material Co., Ltd. to receive CNY 113.98 million in equity round of funding on August 11, 2021. The investor will acquire 75% stake in the company. The registered capital will increase by CNY 66 million from CNY 22 million to CNY 88 million, upon closing. The transaction has been approved by the 17th meeting of the 6th board of directors of the investor.