Jiangsu Zhiwei Electronic Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 400,000,000 on March 24, 2021. The transaction will include participation from returning investor, Jiangsu Transimage Technology Co., Ltd. (SZSE:002866) to retain 100% stake in the company. After the capital increase is completed, the registered capital will be increased from CNY 100,000,000 to CNY 500,000,000. The transaction has been approved by the board of directors in fourth meeting of the third board of directors of the company and does not need to be submitted to the company's general meeting of shareholders for approval.