Haowei Semiconductor (Shanghai) Co., Ltd. announced a private placement of common shares for gross proceeds of not more than CNY 2,000,000,000 on August 17, 2021. The transaction will include participation from returning investor Will Semiconductor Co., Ltd. to retain its 100% stake in the company. The transaction was reviewed and approved at the the 41st meeting of the fifth board of directors of the investor.

The transaction does not need to be submitted to the investor's general meeting of shareholders for review and approval.