Innoscience completes multiple rounds of financing and plans to use the funds raised from the IPO for multiple projects

In terms of financing, Innoscience has completed five rounds of financing. In June 2018, Innoscience completed a round A financing of 55 million yuan; in January 2021, the company completed a round B financing of 1.502 billion yuan; in the same month, the company completed a round C financing of 1.418 billion yuan; in February 2022, the company completed a round D financing of 2.609 billion yuan; in April this year, Innoscience just completed a round E financing of 650 million yuan. The total amount of five rounds of financing exceeds 6 billion yuan. In this application for listing on the Hong Kong stock market, Innoscience plans to use the net proceeds from the IPO to expand the production capacity of 8-inch gallium nitride wafers, repay bank loans, research and develop and expand product portfolios, expand the global distribution network of gallium nitride products, as well as working capital and other general corporate purposes.