Hua Hong Semiconductor provides update on acquisition and share issuance

Hua Hong Semiconductor Limited issued a monthly update regarding its major and connected transaction, a proposed non-public issuance of RMB shares, and an application for a whitewash waiver. As of December 16, 2025, the company is still negotiating the terms of the proposed acquisition, including a supplemental agreement and the valuation of the target assets.

The company and its advisers are actively preparing information for the Circular, which will include the Asset Valuation Report, pro-forma financial information of the enlarged Group, financial information of the Target Company, and a letter from the Hong Kong Independent Financial Adviser. Both the proposed acquisition and the proposed non-public issuance of RMB shares are subject to certain conditions and approvals.

Completion of the proposed acquisition is conditional upon the whitewash waiver being granted by the Executive and approved by Takeovers Code Independent Shareholders. The proposed non-public issuance of RMB shares is also contingent upon the completion of the proposed acquisition. Further announcements will be made on the status and progress of the proposed acquisition and the timing of the Circular's despatch.