Zhanxin Electronics Completes Series C Financing

On January 21, Zhanxin Electronics announced the completion of the first round of nearly 1 billion yuan of funds in its C round of financing. This round of C financing was led by the China Development Bank Manufacturing Transformation and Upgrading Fund, followed by CICC Capital, Jinshi Investment, and Xinxin. It will be mainly used for product and process research and development, silicon carbide (SiC) wafer fab expansion and company operations, in order to continuously improve the market competitiveness of products and enhance the wafer fab's supply guarantee capabilities.