Shanghai Hejing announced on November 10 that it has responded item by item to the review inquiry letter from the Shanghai Stock Exchange regarding its issuance of shares to specific targets. The private placement plans to raise up to 900 million yuan, which will be used for the 12-inch semiconductor large silicon wafer industrialization project and to supplement working capital. Once the project reaches full production, it will add an annual production capacity of 900,000 12-inch substrate wafers and 720,000 12-inch epitaxial wafers, with products mainly intended for the CIS analog chip sector. The company stated that this fundraising project can be clearly distinguished from its previous R&D-oriented fundraising project, with no overlapping investment; the company already possesses the relevant technology, personnel reserves, and customer base, and its existing 12-inch epitaxial wafer production capacity is insufficient, making the fundraising project necessary.