Suzhou Poweron IC Design Co., Ltd. announced a private placement and it will issue common shares for a gross proceeds of CNY 201,609,300 on September 25, 2023. The transaction will include participation from returning investor, Wuxi Chipown Micro-electronics limited to retain its 100% stake in the company. After the completion of this capital increase, the gross proceeds of CNY 201,609,300, of which CNY 30,000,000 was added to the registered capital, and capital reserve will be CNY 171,609,300.

The company registered capital will increases from CNY 30,000,000 to CNY 60,000,000. The capital increase of the company has been reviewed and approved at the 21st session of the company?s 4th directorate and the 19th session of the company?s 4th supervisory board approved.