HG Semiconductor Completed Placing of 14,346,000 Shares

.HONG KONG, Dec 2, 2021 – (ACN Newswire) – HG Semiconductor Limited (” HG Semiconductor”, together with its subsidiaries, “the Group”, Stock Code:6908 HK) is happy to reveal that the Group satisfied and finished the positioning arrangement occurred on 1 December2021 An aggregate of 14,346,000 putting shares, representing roughly 2.55%of the released share capital of the Group, have actually been effectively positioned to not less than 6 placees at the positioning cost of HK$ 6.20 per positioning share.The net earnings from the placement, after reduction of the expert cost and other associated costs, totaled up to around HK$862 million. The Group means to use around HK$643 million for reinforcing its research study and advancement (” R&D”) abilities of LED, Mini LED, quick charging, gallium nitride (” GaN”) gadgets and associated semiconductor items. Such quantity of net earnings will be utilized for the set-up of R&D centres, recruitment of R&D specialists, along with procurement of devices and products with a goal to establish and record patent and innovation. Around HK$219 million will be utilized for supplying basic working capital and enhancing the monetary position of the Group.Leveraging its commercial know-how on semiconductor production, HG Semiconductor has actually been broadening its company to numerous sort of semiconductors consisting of GaN associated items. In view of its long-lasting technique in more establishing its organization in the GaN semiconductor market, HG Semiconductor is pleased to reveal that it is establishing a brand-new factory in the Xuzhou Economic and Technological Development Zone, which consists of 7,000 square metres of ultra tidy chambers and 850 square metres of workplace location (” Xuzhou Factory”). It is considered that an assembly line for producing electronic items consisting of GaN associated items will be set up in the factory, the centers of which will be additional updated to complete automation in the future.The management of the Group is likewise happy to present the knowledgeable and expert core members of its Technology and Manufacturing group. Amongst them, Dr. CHEN Zhen (” Dr. CHEN”), the core professional in the GaN semiconductor company and the General Manager of the Xuzhou Factory, has more than 20 years of experience in R&D, production and management in the field of GaN-based optoelectronics gadgets. He has actually mastered the core innovations of GaN electronic gadgets and full-band solid-state light-emitting gadgets along with exclusive innovation of 8-inch silicon-based GaN epitaxial development. Dr. CHEN has actually made an application for more than 30 domestic and foreign patents, and acted as a customer for more than 10 global journals. Mr. LU Juilin (” Mr. LU”), the Operation Deputy General Manager of the Xuzhou Factory, has over 30 years of experience in semiconductor market and foundry innovation and management, with experience in handling 8 to 12- inch fab management and technical experience and 55 nm to 0.5 um chip production procedure factory management experience. He is likewise experienced in constructing brand-new factories and he worked as the Factory Manager of Semiconductor Manufacturing International Corporation (” SMIC”; stock code:0981 HK) and Hua Hong Semiconductor Limited (” HHS”; stock code:1347 HK).Dr. CHANG Ru Gin (” Dr. CHANG”), called the “Father of the Chinese Semiconductor”, is the Senior Consultant of the Group. He is likewise the creator and the previous CEO of SMIC. Dr. CHANG is among the leading figures of the semiconductor market and a market leader of the PRC semiconductor market. Dr. Thomas HU (” Dr. HU”), the Research Deputy General Manager of the Xuzhou Factory, has more than 20 years of work experience in GaN gadget style and fabrication on the planet’s leading business, and was the crucial member in GaN HEMT gadget style and fabrication. Dr. HU is experienced in semiconductor procedure control, fabulous operation and management and supervises of brand-new procedure dish advancement, procedure optimisation, brand-new item advancement, item quality assurance and yield enhancement for GaN HEMT gadgets and items. It is anticipated that the core members of the Technology and Manufacturing group will considerably boost the R&D abilities of the Group, which will be useful to the advancement of the Group’s company as a whole.Mr. ZHAO Yiwen, Chairman and Executive Director of HG Semiconductor stated, “The Group is thrilled to reveal several favorable news, in specific, the facility of our brand-new Xuzhou Factory which sets a brand-new turning point in our advancement. The tactical financial investments of the Group in VisIC Technologies and GaN Systems revealed previously on likewise represent our dedication venturing into the third-generation semiconductor market, more boosting our third-generation semiconductor style and production abilities. With brand-new consultations of skilled and expert core members of the Technology and Manufacturing group, we highly think that the group, who are all first-rate skilled expert in the semiconductor market, can capitalise on their factory management, job management and technical experience to create and produce leading-edge semiconductor items, therefore allowing us to stick out in the extremely competitive market. Leveraging our one-upmanship in the GaN semiconductor market, the Group will catch every market chance, with an objective of accomplishing our long-lasting organization objective to end up being a leading GaN semiconductor business.”.About HG Semiconductor Limited. HG Semiconductor Limited (6908 HK) is mainly participated in semiconductor item organization in China, consisting of the style, advancement, production, subcontracting services and sales of light-emitting diode (” LED”) beads and a brand-new generation of semiconductor gallium nitride (” GaN”). The Group is devoted to accelerating its research study and advancement and growth in the application of GaN associated items, with a goal to end up being a leading semiconductor business with the combination of style, production and sales of semiconductor chips, in addition to supplying overall options with greater effectiveness and competitive system expense.For more information, please go to www.hg-semiconductor.com.Subject: Press release summary. Source: HG Semiconductor Limited.Sectors: Electronics. http://www.acnnewswire.com. From the Asia Corporate News Network.Copyright © 2021 ACN Newswire. All rights booked. A department of Asia Corporate News Network.
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