Jiangsu Lijun Power Semiconductor Co., Ltd. announced that it will receive CNY 15,000,000 in a round of funding on August 29, 2022. The transaction will include participation from new investor Shenzhen MinDe Electronics Technology Ltd for 6.3492% stake. The company has entered into an agreement with the investor.

Out of the total proceeds, CNY 1,312,859 will go towards registered capital and remaining proceeds of CNY 13,687,141 will go towards capital reserve. The transaction has been approved by the board of directors of the investor in its 19th meeting of the third session of the Board of Directors. The company will receive first tranche of CNY 5,000,000 within 15 days after the signing of this agreement, and remaining CNY 10,000,000 before October 31, 2022.