VeriSilicon Microelectronics (Shanghai) Co., Ltd. announced a private placement and it will issue not more than 49,991,123 A shares for gross proceeds of not more than CNY 1,808,156,900 on December 22, 2023. The A shares have a face value of CNY 1 per share. The transaction will include participation from not more than 35 investors.

The number of shares issued this time is determined by dividing the total amount of funds raised by the issuance price. At the same time, the number of shares issued this time shall not exceed 10% of the company's total share capital before the issuance to specific objects. The pricing base date for this issuance to specific objects is the first day of the issuance period.

The issuance price shall not be lower than 80% of the average trading price of the company's stock in the 20 trading days before the pricing base date. After the issuance is completed, the shares subscribed by the issuance objects shall not be transferred within six months from the date of completion of the issuance. The transaction has been approved by the board of directors of the company in the reviewed and approved at the 11th meeting of the company's second board of directors, and subject to review and approval by the company?s shareholders?

meeting, Shanghai Stock Exchange, and China Securities Regulatory Commission.