Chenming Electronic Technology Corporation announced a private placement of not more than 70,000,000 common shares on January 11, 2022. The transaction may include participation from Lin Mu-Ho, Lin Feng-Ran, Chen Hsiao-Chun, LO Chih-Chi and Shengmei Precision Industry Co.,Ltd. The price shall not be lower than 80% of the reference price. The company will receive funding twice within one year from the date of the resolution of the interim meeting of shareholders.

The transaction has been approved by board of directors of the company and is subject to approval of its shareholders in an interim meeting. The shares shall not be freely transferred within three years from the date of delivery.