Cambricon(SH:688256) Shang Hai Zheng Quan Bao·2025-09-09 12:29Core Viewpoint - The company, Cambricon, has received approval from the China Securities Regulatory Commission for a stock issuance to specific investors, aimed at raising funds for projects related to large model chip and software platforms, as well as for working capital [1][2]. Group 1: Fundraising Details - Cambricon plans to raise no more than 4.98 billion yuan through the issuance of A-shares to specific investors [2]. - The initial fundraising target was adjusted to a maximum of 3.985 billion yuan due to an increase in total shares from the implementation of a restricted stock incentive plan [2]. - The funds will be used to enhance the company's chip research and development capabilities, technical reserves, and product capabilities, thereby strengthening its market competitiveness and achieving sustainable long-term development [2]. Group 2: Project Necessity and Feasibility - The fundraising projects align with the company's operational development plan, focusing on building a computing power software and hardware matrix for large models [2][3]. - Cambricon has a history of successfully completing product and technology iterations, with some research challenges already overcome and sufficient technical and personnel reserves in place [3]. - The company maintains stable communication with hardware and software suppliers, ensuring a solid foundation for the testing and validation of planned products [3].