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On October 8, Biren Technology unveiled that it had signed a share placement deal with placement agents. Under this agreement, 130 million new H shares would be issued at a price of HK$31.08 per share, successfully raising a total of around HK$4.04 billion (with a net amount of approximately HK$4.02 billion). Regarding the allocation of these funds, roughly 70% will be channeled into strategic supply chain procurement, production preparations, and the commercialization efforts for the next-generation products. Around 20% will be earmarked for bolstering R&D capabilities and enhancing the software ecosystem. The remaining 10% will be set aside as working capital and for general corporate needs. Moreover, Biren Technology's new-generation products have been successfully powered on and have now entered the post-tape-out verification stage.
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