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On July 23, 2026, Huafeng Test & Control made an announcement stating that it had successfully garnered a total of RMB 749 million through the issuance of its 'Huafeng Convertible Bonds.' After deducting the issuance expenses, the net amount received on June 29 was RMB 743 million. Both the company and its subsidiary, Tianjin Huafeng, have taken steps to ensure the standardized use of these funds by opening dedicated accounts. Furthermore, they have entered into tripartite and quadrupartite supervision agreements with China Merchants Bank, Agricultural Bank of China, and CICC, respectively. These agreements are in place to guarantee that the funds are utilized solely for the research and development innovation project concerning the self-developed ASIC chip testing system.
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