Innoscience's Hong Kong IPO funds will be mainly used for capacity expansion and product research and development

The funds raised by Innoscience in this Hong Kong IPO will be mainly used for capacity expansion and product research and development: On the one hand, Innoscience plans to use 50% of the funds raised to expand the production capacity of 8-inch GaN wafers, from 10,000 wafers per month as of December 31, 2023 to 70,000 wafers per month in the next five years, and purchase corresponding production equipment and recruit production personnel to meet the needs of production line operation. On the other hand, Innoscience plans to use 15% of the funds raised for research and development and expansion of the GaN product portfolio, and further increase the penetration rate of GaN products in the terminal market by recruiting R&D personnel and launching new products.