On the 5th of June, Shenzhen Microelectronics released an announcement to announce that the total face value of the proposed public issuance of corporate bonds does not exceed RMB 2 billion (including RMB 2 billion). The specific issuance size and the number of shareholders' meetings are requested to authorize the board of directors and the board of directors. Authorized persons shall be determined within the above-mentioned scope in accordance with relevant regulations, according to the company’s capital requirements and the market conditions at the time of issuance.
Shen Tianma stated that the funds raised from this bond will be used to supplement liquidity and repay the company's debts or other purposes permitted by laws and regulations. The purpose of the specific use of raised funds is to request the shareholders' meeting to authorize the board of directors and authorized persons of the board of directors to make determinations based on the company’s funding needs.
