Hua Hong Semiconductor's application for issuance on the Science and Technology Innovation Board has been accepted

According to the announcement issued by the official website of the Shanghai Stock Exchange, the Shanghai Stock Exchange has accepted Hua Hong Semiconductor Co., Ltd.’s application for an IPO on the Science and Technology Innovation Board.

According to the prospectus, the company plans to publicly issue no more than 433.73 million RMB ordinary shares to the public. The net amount of the actual raised funds after deducting the issuance expenses is planned to be invested in the following projects:

Among them, the Hua Hong Manufacturing (Wuxi) project plans to use the raised funds of 12.5 billion yuan; the 8-inch factory optimization and upgrading project plan to use the raised funds of 2 billion yuan; the characteristic process technology innovation research and development project plans to use the raised funds of 2.5 billion yuan; Supplementary working capital The amount of raised funds to be used is RMB 1 billion.

This will be another Hong Kong-listed semiconductor company planning to issue A-share listings after SMIC's return to A. According to public information, Hua Hong Semiconductor was established in 2005 and is a subsidiary of Hua Hong Group. The company's products cover embedded non-volatile memory, power devices, analog and power management, logic and radio frequency, and other differentiated process platforms. By the end of 2020, Hua Hong's 8-inch wafer production capacity is 178,000 wafers per month, accounting for about 3% of the world's total, making it the second-largest foundry in mainland China.

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