AccoSemi (688380.SH) has officially declared its intention to wrap up projects financed through its Initial Public Offering (IPO). The company aims to permanently allocate RMB 121 million from the leftover IPO proceeds as working capital. Additionally, it has earmarked an extra RMB 100 million for a pioneering venture, dubbed the "IPM Production Line Project." To streamline the execution of this ambitious project, AccoSemi will set up a fully-owned subsidiary, AccoSemi Zixin Technology (Sichuan) Co., Ltd., in the city of Ziyang, Sichuan province. This new entity will boast a paid-in registered capital of RMB 100 million.
