According to CoinMeta, Shanghai Hejing announced that the company is addressing and responding to each item of the inquiry letter regarding the issuance of shares to specific targets issued by the Shanghai Stock Exchange. The total amount of funds raised through this private placement does not exceed 900 million yuan, which will be used for the industrialization project of 12-inch semiconductor wafers and to supplement working capital. Once the project is fully operational, it will add an annual production capacity of 900,000 12-inch substrates and 720,000 12-inch epitaxial wafers. The products are mainly applied in the field of CIS simulation chips. The company already possesses the relevant technology, personnel reserves, and customer base; however, the current production capacity of 12-inch epitaxial wafers is insufficient, making the fundraising necessary.