Summary by Moomoo AI
Hua Hong Semiconductor Co., Ltd. released a special report on the use of funds raised in the first half of 2024 on August 29, 2024. The report shows that according to the approval of the China Securities Regulatory Commission on June 6, 2023, the company publicly issued 40.775 million shares of RMB ordinary shares, with a total amount of funds raised of RMB 21.23 billion. After deducting relevant expenses, the net amount of funds raised is RMB 20.92 billion. As of June 30, 2024, the balance of the company's fund-raising account is RMB 16.7563 billion. The company has stored the raised funds in accordance with relevant laws, regulations, and fund management system requirements, and has signed fund storage supervision agreements with multiple banks. In addition, the company's board of directors has authorized the use of a portion of temporarily idle raised funds for cash management and has purchased low-risk cash management products. The company has not committed any significant violations in the use of raised funds and has disclosed relevant information in accordance with the law.
