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Raytron Technology to Increase Budget for Transactions with Affiliate

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Raytron Technology (SHA:688002) increased its budget for transactions with affiliate Yantai Qichuang Xinyuan Technology, according to a Tuesday filing with the Shanghai bourse.

Purchases are seen to increase by about 7 million yuan, while the allocation for sales of goods will rise by 55.3 million yuan, and services to related parties will rise by about 2 million yuan.

Yantai Qichuang Xinyuan Technology is held by the listed company's controlling shareholder Ma Hong.

Shares rose 2% during morning trading on Tuesday.

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