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Wuhan Jingce Electronic Subsidiary Raises New Capital

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Wuhan Jingce Electronic (SHE:300567) subsidiary Wuhan Jinghong Electronic Technology is seeking to raise 37 million yuan in new capital from five investors, according to a Thursday filing with the Shenzhen bourse.

Wuhan Jinghe Investment Consulting Partnership will contribute 9 million yuan, while Wuhan Jingjun Investment Consulting Partnership will inject 7.5 million yuan.

Wuhan Jingce vice general manager Liu Ronghua and Wuhan Jinghong investor Shuai Min will contribute 2.5 million yuan and 7.5 million yuan, respectively, while individual investor Li Zhan will invest 10.5 million yuan.

Following the investment, Wuhan Jingce's direct shareholding in Wuhan Jinghong will drop to 50% from 66.37%, and its shareholding through subsidiary Jingce Electronics (Hong Kong) will slide to 10% from 13.27%.

Shares rose 1% during the midday break on Thursday.

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