On September 25, 2025, Panasia Microfiltration (688386) revealed its intention to issue shares to a select group of investors, with the objective of raising a maximum of RMB 699 million. The proceeds from this share issuance will be allocated towards several key initiatives. These include facilitating the technological upgrade and capacity expansion of smart manufacturing processes for dew - point controller (CMD) products, advancing the development of low dielectric loss FCCL flexible copper - clad laminates, constructing a research and development center, and replenishing the company's working capital.