Shenzhen Techwinsemi Technology Co., Ltd. announced that it has entered into a share subscription agreement for the private placement of not more than 24,053,040 A shares for the gross proceeds of not more than CNY 1,250,000,000 on June 29, 2023. The transaction will include participation from not more than 35 investors, including existing investor, Li Hu, who will subscribe to 5-30% of the issuance. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares Li Hu subscribes to cannot be transferred within 18 months from the issuance closing date. The shares the other investors subscribe to cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 3rd meeting of the company’s 2nd directorate, and 3rd Meeting of the 2nd Supervisory Board, and is subject to the approvals of the company’s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

The Company’s total share capital is 80,176,800 shares and Li Hu holds 32,088,900 shares, 40.02% stake.