China Electronic System Technology Co., Ltd announced that it will receive CNY 1,033,927,300 in an equity round of funding on August 23, 2022. The transaction will include participation from returning investors Shenzhen SED Industry Co., Ltd for CNY 1,000,000,000 and would retain a stake of 96.7186%, CEC Financial Investment Holdings Co., Ltd. for CNY 33,927,300 and would retain its stake of 3.2814%. Out of total proceeds CNY 300,000,000 would go towards registered capital and remaining proceeds would go towards capital reserve.

Pursuant to the transaction, the registered capital of the company would increase from CNY 700,000,000 to CNY 1,000,000,000. The transaction has been approved by board of directors of Shenzhen SED Industry Co., Ltd in its seventh meeting of the ninth session of the board of directors and is subject to the approval of by the general meeting of shareholders.