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On September 18, GalaxyCore made public its intention to issue a maximum of 390 million A-shares to a select group of no more than 35 specified entities, with the aim of amassing a total of up to 4.2 billion yuan. Following the deduction of issuance expenses, the proceeds from this capital raise will be strategically channeled into three key areas: the expansion project for the 12-inch CIS integrated circuit specialty process, the R&D and subsequent industrialization endeavors for high-performance, high-pixel image sensors, as well as bolstering the company's working capital reserves. It's important to note that this strategic move is still contingent upon obtaining the green light from the shareholders' meeting, undergoing a thorough review by the Shanghai Stock Exchange, and securing registration with the China Securities Regulatory Commission.
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