Semiconductor Pioneer Manufacturing Electronics (Shaoxing) Co., Ltd. announced that it will raise CNY 3.85 billion in an equity funding on January 9, 2024. The transaction will include participation from returning investor, United Nova Technology Co.,Ltd. by investing CNY 2,887.5 million and its stake remain unchanged and new investor, Shaoxing Fuzhe Yuexin Integrated Circuit Industry Equity Investment Fund Partnership by investing CNY 962.5 million for 14.05% stake. Upon the completion, the company's registered capital increase from CNY 3,000 million to CNY 6,850 million.

The transaction has been approved at the 19th meeting of the first board of directors.