Hongfujin Precision Electronics (Tianjin) Co., Ltd. announced that it will receive CNY 700,000,000 in a round of funding on June 8, 2021. The company will issue common shares in the transaction. The transaction include participation from existing investor Foxconn Industrial Internet Co., Ltd. (SHSE:601138). Post completion of transaction, the registered capital of the company will increase from CNY 1760,208,000 to CNY 2460,208,000. The transaction has been approved at 11th meeting of the second board of directors and the 9th meeting of the second board of supervisors of the investors and does not require the company's shareholders approval.