Chang Chuan Technology revises share issuance, targets full subsidiary ownership

Hangzhou Chang Chuan Technology has revised its 2025 non-public issuance of A-shares, adjusting the total proposed fundraising from up to 313,203.05 million yuan to up to 312,703.05 million yuan. This change primarily affects the proposed investment in working capital, which is reduced from 93,960.00 million yuan to 93,460.00 million yuan. The maximum number of shares to be issued also increased from 188,648,115 shares to 189,829,143 shares due to changes in the company's total share capital from a restricted stock incentive plan.

The company is also proposing to acquire a 33.3333% equity stake in its controlled subsidiary, Hangzhou Chang Chuan Intelligent Manufacturing Co.,Ltd, from the National Integrated Circuit Industry Investment Fund Phase II Co., Ltd, for a transaction floor price of 46,287 million yuan. This transaction will increase Chang Chuan Technology's ownership in the subsidiary to 100.0000%, making it a wholly-owned subsidiary.

Furthermore, Chang Chuan Technology is overhauling its corporate governance structure, including the proposed abolition of the Supervisory Board. Its functions will be transferred to the Board's Audit Committee. This change necessitates revisions to the Company Articles of Association and various internal governance policies.