Chenhua (Fuzhou) Technology Development Co., Ltd. announced a placement of common shares for gross proceeds of CNY 3,000,000 on June 7, 2023. The transaction will include participation from returning investors, Yangzhou Chenhua New Material Co., Ltd. for CNY 1,800,000 and Shanghai Jitan Technology Co., for CNY 1,200,000. Through the transaction, the company's registered capital will increase from CNY 1,000,000 to CNY 4,000,000.

The transaction is not subject to approval from the company's directorate and shareholders.