Chengbang shares: It is proposed to raise no more than 100 million yuan through private placement to expand production of embedded storage chips and supplement liquidity.

Chengbang Corporation Announcement: The company plans to issue stocks to specific targets through a simplified process, with a total fundraising amount not exceeding 100 million yuan, which will be used for the expansion of embedded storage chip production and supplementing working capital after deducting issuance expenses. The issuance is limited to no more than 35 specific investors, with an issuance price not lower than 80% of the average trading price of the company's stock for the 20 trading days before the pricing date. The number of shares issued shall not exceed 30% of the total pre-issuance shares, with a lock-up period of 6 months. The issuance plan has been approved by the company's board of directors and still needs to be reviewed by the stock exchange and approved by the China Securities Regulatory Commission.