Xinpeng Micro adjusts its nearly 150 million yuan fundraising structure; the test production lines for two major projects have been changed from joint construction to self-built.

[Finance News] On March 14, Chipone Micro (688508.SH) announced that the company has decided to make significant adjustments to the implementation methods of two fundraising investment projects, changing the originally planned joint construction of testing production lines to self-construction, and simultaneously adjusting the internal investment structure. The total funds involved in this adjustment amount to 148.75 million yuan, aiming to improve product reliability and supply capacity, and strengthen the company’s core competitiveness in the automotive-grade and industrial-grade chip fields.

Basic Information on Fundraising

In 2023, the company raised a net amount of 959.88 million yuan through a targeted stock issuance, used for three major projects. As of December 31, 2025, a total of 433.88 million yuan has been invested from the raised funds, with an overall investment progress of 45.20%.

Details of Project Adjustments

According to the announcement, the company plans to change the testing production lines in the “New Energy Vehicle High-Voltage Power Supply and Electric Drive Power Chip R&D and Industrialization Project” and the “Industrial Digital Power Management Chip and Supporting Power Chip R&D and Industrialization Project” from joint construction to self-construction. To this end, the company has adjusted the internal investment structure of these two projects:

After the adjustment, the combined land purchase and renovation costs for the two projects increase by 148.75 million yuan, while the corresponding investment in hardware, software, and IP purchase decreases by the same amount. The company states that if there is a funding gap in hardware, software, and IP purchases for the self-built testing lines in the future, it will be covered with its own funds.

Reasons for and Impact of the Adjustment

Chipone Micro states that this adjustment is mainly based on strategic considerations to enhance product reliability, yield, and supply capacity, and to stabilize large-scale delivery. The self-built testing lines will focus on reliability testing for automotive-grade products, wafer testing, and finished product testing, with industrial-grade digital power products testing as a supplementary measure. This will help the company better control product quality and production cycles.

The announcement emphasizes that this adjustment does not fundamentally change the purpose of the raised funds and will not adversely affect the company’s normal production and operations. The company’s sponsor, Guotai Haitong Securities, has expressed clear approval of this matter, believing that the adjustment complies with relevant laws and regulations and does not harm the interests of the company and shareholders.

This matter still requires approval at the company’s shareholders’ meeting. Market analysts believe that self-building testing lines will enhance Chipone Micro’s independent controllability in the power semiconductor field, especially in high-end application scenarios such as new energy vehicles and industrial control, which will be beneficial in the long term for increasing the company’s product gross profit margin and market share.

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