Shenyang Shenfei Wiring Harness Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 83,466,000 on May 26, 2022. The transaction will include participation from new investor Baosheng Science and Technology Innovation Co.,Ltd. Post closing, the registered capital of the company will increase from CNY 38,800,000 to CNY 107,315,700. The transaction has been approved at the eleventh meeting of the ninth board of directors and the eighth meeting of the ninth board of supervisors of AVIC Shenyang Aircraft Company Limited.

Post closing, the investor will acquire 43.51% stake in the company.