Chengdu Silan Semiconductor Manufacturing Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 2,100,000,000 on March 29, 2023. The transaction will include participation from returning investor Hangzhou Silan Microelectronics Co., Ltd for CNY 1,100,000,000 to subscribe to new registered capital of CNY 833,333,333 and National Integrated Circuit Industry Investment Fund Phase II Co., Ltd. for CNY 1,000,000,000 to subscribe to new registered capital of CNY 757,575,758 representing 23.9% stake, a fund managed by Huaxin Investment Management Co., Ltd. The transaction has been approved in the 6th Meeting of the Company?s 8th Directorate and does not need the shareholders approval.

On April 20, 2023, the company announced that the transaction has been approved by the 2022 Annual General Shareholders Meeting of Hangzhou Silan Microelectronics Co., Ltd.