Guangdong Shunde Yida Electronic Thin Film Device Co., Ltd. announced that it has signed a capital increase agreement for the private placement of shares for gross proceeds of CNY 10.41 million on March 8, 2022. The transaction will include participation from new investor GuangDong Leary New Material Technology Co., Ltd. for 51.01% stake in the company. Post completion of the transaction, the capital of the company will increase from CNY 5.10 million to CNY 10.41 million.

Out of the total gross proceeds, CNY 5.31 million will go into registered capital, and CNY 5.10 million will go into capital reserve.