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On January 30th, Liyang Chip made an announcement stating that the company is set to raise a maximum of RMB 970 million (inclusive) through a private share placement to targeted investors. After deducting the costs associated with the share issuance, the proceeds will be exclusively allocated to the Dongcheng Liyang Chip Integrated Circuit Testing Project, the Wafer Laser Stealth Dicing Project (Phase I), the Heterogeneous Stacking Advanced Packaging Process R&D Project. Additionally, a portion of the funds will be utilized to bolster working capital and settle bank loans. Prior to the receipt of the raised capital, the company has the flexibility to make pre-emptive investments in the projects using its internal resources or self-raised funds. Once the raised capital is secured, the company will replace these initial investments in accordance with regulatory guidelines.
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