Wuxi Chipown Micro-electronics limited announced a private placement of not more than 33,929,550 A shares for gross proceeds of not more than CNY 1,098,838,800 on March 17, 2022. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved at the 9th meeting of the 4th directorate and the 9th meeting of the 4th supervisory board, and is subject to the approvals of the company's shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.

On May 20, 2022, the company announced the Shanghai Stock Exchange reviewed and decided to accept the private placement application.