Summary by Moomoo AI
Huahong Semiconductor Co., Ltd. (“Huahong Semiconductor”) announced on 27 February 2024 that the growth plan of its indirect controlling shareholder Shanghai Huahong (Group) Limited (“Huahong Group”) was completed on 26 February 2024. The plan was implemented within 6 months from August 30, 2023. Huahong Group accumulated 1,198,517 shares of Company A shares, representing 0.07% of the company's total share capital, through a centralized bidding process, amounting to RMB5,208.22 million. Following this increase, Huahong Group and its wholly-owned subsidiary Shanghai Huahong International Corporation together hold 348,804,167 shares of Huahong Semiconductor, representing 20.32% of the total share capital. The implementation of the Growth Plan complies with the relevant regulatory requirements of the China Securities and Exchange, and the Shanghai Stock Exchange, and has no impact on the distribution of shares, governance structure and continuing operations of the company.