Jingchen Corporation plans to issue non-10% H shares and adjust its governance structure.

Jingchen Semiconductor announced that the company plans to issue H shares, not exceeding 10% of the total share capital, and list them on the main board of the Hong Kong Stock Exchange. The company's registered capital will increase from 420 million shares to 421 million shares, with the underwriters being granted 15% over-allotment option. The company will dissolve the board of supervisors, amend the company's articles of association, increase the number of board members to 7, and increase the number of independent directors to 3. The funds raised will be used for chip research and development, as well as the construction of a global service system. The relevant proposals have been approved by the board of directors and the board of supervisors, and are pending approval at the shareholders' meeting.