Konfoong materials plans share issuance to boost semiconductor business

Konfoong Materials International plans a non-public issuance of shares to raise up to CNY 1.95bn, net of financial investments and issuance costs. The funds will support a static chuck industrialization project, a high-purity metal sputtering target industrialization project, an R&D and technical service center, and general working capital and debt repayment. This initiative aims to expand the company's core businesses, improve its financial structure, and strengthen its market competitiveness. The issuance is expected to increase total share capital by up to 79,596,204 shares, representing 30% of the current total, and will not alter the controlling shareholder.

The share issuance requires approval from shareholders and regulatory bodies. The company will convene its fourth extraordinary general meeting on September 24, 2025, to vote on the proposal. Following the issuance, the company’s capital structure will be optimized, and its asset-liability ratio is expected to decrease, mitigating financial risks. The board of directors has also approved the appointment of Mr. Zou Junwei as the new board secretary and investment director, effective from the board meeting on September 8, 2025.