Zhongfu Circuit has outlined a strategic plan to raise a maximum of 850 million yuan by issuing shares to a select group of investors. The proceeds from this private placement will be earmarked for the renovation and expansion of the AI PCB (Printed Circuit Board) production line at Heshan Zhongfu, facilitating its digital transformation, and bolstering working capital reserves.

Under this plan, the company intends to issue a maximum of 57.429 million shares. The issue price per share will be set at no less than 80% of the average trading price of the company's shares over the 20 trading days preceding the pricing benchmark date, ensuring a fair and competitive valuation.

It's important to note that the implementation of this issuance plan is subject to several key approvals. Firstly, it requires the green light from the company's shareholders' meeting, ensuring alignment with the interests of its stakeholders. Subsequently, the plan will undergo a thorough review by the Shenzhen Stock Exchange, adhering to regulatory standards and market practices. Finally, registration approval from the China Securities Regulatory Commission (CSRC) is imperative, guaranteeing compliance with national securities regulations. Only upon securing these approvals can Zhongfu Circuit proceed with the execution of its fundraising initiative.