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On June 23, ZZ Technology made an announcement revealing that Jiang Yuan, the company's controlling shareholder and actual controller, along with the controlled subsidiary Zhiwei Semiconductor (Shanghai) Co., Ltd., entered into an agreement on June 22. According to the agreement, Jiang Yuan or its designated entity plans to invest an amount not exceeding RMB 200 million in Zhiwei Semiconductor through a capital increase. This move is aimed at optimizing the subsidiary's capital structure and bolstering its operational capabilities. However, it's important to note that this plan is contingent upon evaluation and approval, and thus, carries certain uncertainties. Furthermore, on June 18, Jiang Yuan and its concerted parties collectively reduced their shareholdings by 8,595,467 shares, which represents 2.24% of the total share capital.
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