StarPower Semiconductor Ltd. announced a private placement of not exceeding 16,000,000 A shares for gross proceeds of not more than CNY 3,500,000,000 on March 2, 2021. The company issue shares at an issue price of not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction will include participation from not more than 35 special investors.

The shares have par value of CNY 1 per share. The transaction has been approved by the board of directors in its 5th meeting of the 4th directorate and is subject to the approval of company's shareholders meeting and the China Securities Regulatory Commission. The shares to be issued pursuant to the transaction are subject to a hold period of 6 months.

The approval is valid of 12 months from the date of approval by the company's shareholders meeting.