Summary by Futu 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. 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, raising a total of RMB 21.23 billion. After deducting relevant expenses, the net amount of funds raised was RMB 20.96 billion. As of June 30, 2024, the balance of funds raised by the company was RMB 16.76 billion. The company has stored the raised funds in a special account and signed fund account storage supervision agreements with multiple banks in accordance with relevant laws, regulations, and fund management system rules. In addition, the board of directors has authorized the use of a portion of the temporarily idle funds for cash management and purchased low-risk cash management products. The company has not violated any significant regulations regarding the use of raised funds and has disclosed relevant information in accordance with the law.