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In order to raise capital, ZECHENG Electronics plan to raise 35.28 million RMB through private placement by NEEQ
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ZECHENG Electronics is an Integrated service provider of customized module based on flexible application. With the continuous growth of the company's operating income and the continuous maturity and expansion of the business scale, a large amount of capital needs to be invested in purchasing supplier products and R&D investment.

Therefore, on June 29, 2020, after multiple rounds of consultations and discussions and the shareholders' meeting deliberated and decided, ZECHENG Electronics introduced Shenzhen CDF-Capital Investment Co., Ltd., a well-known investment institution, as the company's new round of strategic investors.

CDF-Capital is a professional PE institution focusing on small and medium-sized technology enterprises, mainly investing in the fields of big IT, big health (bio-based), new manufacturing, and new materials driven by underlying technological innovation or innovative applications. The addition of CDF-capital will also bring a lot of resources to ZECHENG Electronics in the field of high-end electronics manufacturing equipment industry.

The main investors of this private placement are Shenzhen CDF-Capital Group-Shenzhen CDF-Fortune Equity Investment Fund Partnership (Limited Partnership) (PE investor), and Shenzhen CDF-Capital’s shareholder-Jin Angsheng (Natural person investor). The total number of shares to be issued this time is 2.8 million shares, and the subscription amount is RMB 35.28 million.

After the completion of this private placement, supplementary liquidity can reduce the company's debt-to-asset ratio, optimize the capital structure, reduce the cost of capital, and at the same time further expand the company's scale, enhance the company's ability to resist risks, and ensure the company's steady and sustainable development in the future.