Tianjin Zhonghuan Semiconductor Co., Ltd. announced a private placement of not more than 606,585,308 A shares for gross proceeds of not more than CNY 9,000,000,000 on April 26, 2021. The transaction will include participation from not more than 35 special investors. the shares will have par value of CNY 1 per share and will be issued at a price not less than 80% of the average price 20 trading days before the first day of the issue period. The transaction has been approved in the 10th meeting of the 6th directorate of the company and is subject to the approval of the company's shareholders meeting and the China Securities Regulatory Commission. The shareholder's resolution is valid for 12 months from the date of deliberation and approval. The shares to be issued are subject to a lock-up period of 6 months.