3Peak Microelectronics Technology (Shanghai) Co., Ltd. announced a private placement and it will issue common shares for gross proceeds of CNY 400,000,000 on August 4, 2023. The transaction will include participation from returning investor, 3Peak Incorporated. Post-closing the transaction, the investor will continue to hold 100% stake in the company and registered capital of the company will increase from CNY 600,000,000 to CNY 1,000,000,000.

The increase in the registered capital of the company has been reviewed and approved at the 18th meeting of the investor third board of directors of investor and does not need to be submitted to the investor shareholders' meeting for review and approval.