Shennan Circuits said it plans a private placement of A-shares to raise up to 3.9 billion yuan for advanced mSAP substrate and IC packaging substrate projects, as well as working capital and debt repayment.
According to Jin10, the company released a 2026 plan to issue A-shares to no more than 35 designated investors. After deducting issuance expenses, the proceeds are intended for a Phase I intelligent manufacturing and industrialization project for advanced mSAP substrates at Zhuhai Shennan Semiconductor Co., Ltd., a Phase III integrated circuit packaging substrate project at Zhuhai Xingke Semiconductor Co., Ltd., and for replenishing working capital and repaying bank loans.
The number of shares to be issued will not exceed 30% of the company’s total share capital before the issuance, or up to 510 million shares. The issue price will be no less than 80% of the average trading price over the 20 trading days before the pricing benchmark date.
The placement remains subject to approval by the company’s shareholders’ meeting, review by the Shenzhen Stock Exchange, and registration consent from the China Securities Regulatory Commission before it can be implemented.
STOCKS | Shennan Circuits Plans Up to 3.9 Billion Yuan A-Share Placement for mSAP Substrate Projects
2026-06-23 18:46:04
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