Jingfeng Xinchi (Shanghai) Semiconductor Technology Co., Ltd. announced that it will raise CNY 20,000,000 in an equity funding in August 28, 2023. The transaction will include participation from returning investors, Ningbo Jingfeng Tongchuang Enterprise Management Consulting Partnership (Limited Partnership) will invest CNY 6,000,000 for 30% stake, Ningbo Jingfeng Gongcheng Business Services Partnership (Limited Partnership) will invest CNY 2,000,000 for 10% stake, Konfoong Materials International Co., Ltd will invest CNY 10,200,000 and Beijing Jiangfeng Tongchuang Semiconductor Industry Fund (Limited Partnership) will invest CNY 1,800,000. The transaction has been approved in the 42nd meeting of the 3rd board of directors.

Post completion of capital increase, the shareholding pattern of Konfoong Materials International Co., Ltd and Beijing Jiangfeng Tongchuang Semiconductor Industry Fund (Limited Partnership) will remain unchanged i.e., 51% and 9% respectively. Upon the completion of the transaction, the company's registered capital will increase from CNY 10,000,000 to CNY 30,000,000.