Shenzhen Microgate Technology Co., Ltd. announced that it has received CNY 1.339999993 billion in funding from Shenzhen Special Economic Zone Development Group Co., Ltd., Shenzhen Capital Group Hongtu Equity Investment Management Co., Ltd., Caitong Fund Management Co., Ltd., China Asset Management Co., Ltd., Shenzhen Xiaoxiang Junyi Asset Management Co., Ltd.

On June 22, 2021, Shenzhen Microgate Technology Co., Ltd. closed the transaction. The company issued 157,647,058 shares at an issue price of CNY 8.50 per share for gross proceeds of CNY 1,339,999,993. The transaction involved participation from Shenzhen Special Economic Zone Development Group Co., Ltd. for CNY 612,000,000, Shenzhen Capital Group Manufacturing Transformation and Upgrading New Materials Fund (L.P.), a fund managed by Shenzhen Capital Group Hongtu Equity Investment Management (Shenzhen) Co., Ltd. for CNY 336,000,027.50, Caitong Fund Management Co., Ltd. for CNY 167,999,992.50, China Asset Management Co., Ltd. for CNY 73,999,997, Shenzhen Xiaoxiang Junyi Asset Management Co., Ltd. for CNY 49,999,992, Xu Guoxin for CNY 49,999,992, and Zhang Qizhi for CNY 49,999,992.

The company will pay underwriting sponsorship fees and attorney fees, audit fees and other issuance expenses of CNY 9,912,474.91. From the capital raised, CNY 1,172,440,460.09 will be added to the capital reserve and CNY 157,647,058 towards share capital.