Iwanshan Technology (002195.SZ) subsidiary Nullmax (Cayman) plans to introduce a top domestic car-grade chip company to participate in the C-round financing.

Intelligent Finance and Economics APP news, Yanshan Technology (002195.SZ) announced that its holding subsidiary Nullmax (Cayman) plans to initiate a Series C financing with a maximum amount of 100 million US dollars. The company will first introduce a leading domestic automotive-grade chip company with deep business synergies as a strategic investor in the Series C financing through capital expansion. The Series C investor plans to inject 10 million US dollars into Nullmax (Cayman), corresponding to a pre-investment valuation of 425 million US dollars for Nullmax (Cayman). According to the exchange rate announced by the China Foreign Exchange Trading Center on the signing date of the purchase agreement, this is equivalent to 3.0068 billion yuan, representing a 9.04% increase from the post-investment valuation of 2.7575 billion yuan for Nullmax (Cayman) in the previous Series B financing. After this capital injection, the Series C investor will hold a 2.45% stake in Nullmax (Cayman). This transaction will further promote strategic cooperation between Nuodya Technology and the Series C investor.