Minieye Technology Co., Ltd. (Minieye) has provided additional details on its previously announced capital increase in subsidiary Yaoxing Power, confirming a total cash injection of RMB 240.00 million from eight external investors. The transaction, classified as a deemed disposal, will reduce Minieye’s indirect stake (held through Shenzhen Yaoxing Investment) from 70.0% to 60.34% of the enlarged RMB 11.60 million registered capital base.
Key Transaction Metrics • Pre-deal registered capital: RMB 10.00 million. • Post-deal registered capital: RMB 11.60 million. • New funds raised: RMB 240.00 million for 1.60 million new shares, translating to a 13.79% aggregate holding for incoming investors.
Revised Ownership Structure • Shenzhen Yaoxing Investment (Minieye vehicle): 60.34% of Yaoxing Power. • Existing minority shareholders: – neueHCT Ningbo: 12.93% – Matrix Kairos Limited: 12.93% • New investors (aggregate 13.79%): – Horizon: 4.31% (RMB 75.00 million) – Dongfeng Quanzhou Fund: 2.87% (RMB 50.00 million) – CICC Porsche Fund: 2.87% (RMB 50.00 million) – Yuanjing Capital: 1.15% (RMB 20.00 million) – Xingjing Fuying: 1.15% (RMB 20.00 million) – Juhe Capital: 0.86% (RMB 15.00 million) – Foshan Leading: 0.58% (RMB 10.00 million)
Investor Profiles 1. Dongfeng Quanzhou Fund – Backed by state-owned asset supervision bodies in Quanzhou and Beijing, specialising in private equity investments. 2. CICC Porsche Fund – Managed by CICC Private Equity; its largest limited partner is Porsche Investments Management I S.à r.l., holding 30.52%. 3. Yuanjing Capital – Features National SME Development Fund (28.41%) and multiple local government-linked funds among 16 limited partners. 4. Xingjing Fuying – Supported by entities tied to Yixin Group and the Longyan Municipal SASAC. 5. Juhe Capital – Backed by Suzhou High Tech–related investment vehicles. 6. Foshan Leading – Controlled by Foshan Chancheng District SASAC. 7. Horizon, a private investor, contributes the largest single ticket (RMB 75.00 million).
Strategic Implications The capital increase diversifies Yaoxing Power’s shareholder base, bringing in both state-affiliated funds and industry participants such as Porsche’s investment arm. Minieye retains majority control while bolstering the subsidiary’s balance sheet with fresh capital to support future growth initiatives.
Repurchase Right The supplemental filing reiterates that the transaction includes a repurchase right in favour of the new investors, consistent with the original August 28, 2026 disclosure. Further terms remain unchanged.
Governance Update Following completion, Minieye continues to control Yaoxing Power through its reduced yet dominant 60.34% interest held by Shenzhen Yaoxing Investment. The board composition of Minieye remains unchanged.
Timing The company reconfirmed that all conditions precedent for the capital increase have been satisfied, and completion procedures are underway.
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