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On June 27, StarPower Semiconductor unveiled its intention to issue convertible corporate bonds worth up to RMB 1.5 billion, with no specific targets identified. These bonds will be eligible for conversion into the company's A-share stocks and will be listed on the Shanghai Stock Exchange. The proceeds from this issuance will primarily be allocated towards the manufacturing of automotive-grade SiC MOSFET modules, IPM modules, and automotive-grade GaN modules, in addition to bolstering working capital. The final issuance plan will be negotiated and formulated by the board of directors, taking into account market conditions and the company's needs. The issuance is subject to approval from the general meeting of shareholders, as well as the review and registration process of the Shanghai Stock Exchange and the China Securities Regulatory Commission.
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