Xinwangwei plans to issue new shares publicly and raise 1.729 billion yuan

Xinwangwei originally planned to issue no more than 63.53 million shares through public offering of new shares on the Science and Technology Innovation Board, accounting for 10% of the total share capital after issuance. The company plans to raise 1.729 billion yuan, mainly for automotive-grade MCU R&D and industrialization projects, industrial-grade and AIoT MCU R&D and industrialization projects, automotive-grade signal chain and RF SoC chip R&D and industrialization projects, test and certification center construction projects, and to supplement working capital.