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Chinese ceramic chip capacitor maker bags $295m

Viiyong's shareholders include smartphone brands Xiaomi and Oppo

Viiyong has raised fresh funds as it expands its drive into the automotive sector. (Photo from Viiyong website)

HONG KONG -- A Chinese maker of multilayered ceramic chip capacitors has secured almost 2 billion yuan ($295 million) in Series B and B+ rounds of financing as it looks to invest in production facilities at newly built plants and spend more researching and developing automotive-grade MLCCs.

Viiyong, whose shareholders include Chinese smartphone brands Xiaomi and Oppo, made the announcement on Tuesday on WeChat.

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