Chengbang Co., Ltd. has announced its intention to raise funds amounting to no more than 100 million yuan. Out of this total, 75 million yuan is earmarked for the expansion of its embedded storage chips project, while the remaining 25 million yuan will be utilized to bolster its working capital. This fundraising initiative is specifically tailored for a select group of no more than 35 targeted investors. The number of shares to be issued will not exceed 30% of the company's total share capital prior to the issuance. Furthermore, the issue price has been set at a level not lower than 80% of the average trading price of the company's stock over the 20 trading days preceding the pricing benchmark date. As a stipulation, the purchased shares will be subject to a lock-up period, during which they cannot be transferred for a period of six months from the date of the issuance's conclusion. It's important to note that this fundraising endeavor is still contingent upon the approval of the Shanghai Stock Exchange and the registration consent from the China Securities Regulatory Commission.