Hunan San?an Semiconductor Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 1,000,000,000 on August 14, 2023. The transaction will involve participation from existing investor, Sanan Optoelectronics Co.,Ltd. Post-closing of the transaction, the investor will retain its 100% stake in the company. Post-closing, the registered capital of the company will increase from CNY 1,000,000,000 to CNY 2,000,000,000.

The transaction has been approved in the third meeting of the eleventh board of directors of the investor.