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Future Machine to Invest in Zhichen Semiconductor; Shares Rise 6%

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Future Machine (HKG:1401), through its indirect wholly-owned subsidiary Interstellar Quantum, and other investors entered into a fourth angel-round capital increase agreement with shareholders of Zhichen Semiconductor (Shenzhen) under a 20 million yuan investment deal, according to a filing with the Hong Kong bourse on Friday.

Interstellar Quantum will subscribe for 50,073.57 yuan of newly issued registered capital as part of a total 633,430.68 yuan capital increase. The premium over the registered capital shall be credited to the capital reserve of the Target Company, the filing said.

Following the transaction, Future Machine will indirectly hold 0.9742% of the equity interest in the Target Company via Interstellar Quantum.

Shares of Future Machine rose nearly 6% in recent trade.

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