Jiangsu JieJie Microelectronics Co., Ltd. announced a private placement of A shares for gross proceeds of not more than CNY 660 million on December 1, 2023. The transaction included participation from not more than 35 investors. The shares subscribed must not be transferred within 6 months after the issuance.

The transaction has been approved at the 3rd session of the company?s 5th directorate of the company. The transaction is subject to the company?s shareholders? meeting and the approvals of the Shanghai Stock Exchange and the China Securities Regulatory Commission.