Tongfu Microelectronics Co.,Ltd announced a private placement of not more than 398,711,078 A shares for gross proceeds of not more than CNY 5,500,000,000 on September 24, 2021. The transaction has been approved in the 7th meeting of the company’s 7th directorate, and is subject to the approvals of the company’s shareholders and the China Securities Regulatory Commission. The shares cannot be transferred within 6 months from the issuance closing date.