寒武纪高位增发，会否影响股价？

Core Viewpoint - Han's AI chip company, Cambrian (688256.SH), has received approval from the China Securities Regulatory Commission (CSRC) for a private placement of shares to raise up to 3.985 billion yuan [2] Group 1: Fundraising and Regulatory Approval - Cambrian's fundraising plan was initially set to raise up to 4.98 billion yuan but was adjusted to 3.985 billion yuan due to an increase in total shares from a stock incentive plan [2] - The approval process for the fundraising began with a proposal on April 30, 2023, and went through various stages, including inquiries and final registration on September 5, 2023 [2][3] Group 2: Investment Projects - The fundraising will support three main projects: a chip platform for large models, a software platform for large models, and working capital, with reduced funding allocations of 2.054 billion yuan, 1.452 billion yuan, and 479 million yuan respectively [2][3] Group 3: Business Performance and Market Position - Cambrian's main business involves the research, design, and sales of AI core chips for cloud servers, edge computing devices, and terminal devices, with significant revenue growth reported [4] - The company achieved a revenue of 2.881 billion yuan in the first half of 2023, a year-on-year increase of 4347.82%, and turned a profit with a net income of 1.038 billion yuan [4] - Cambrian's stock price surged, reaching a historical high of 1595.88 yuan per share, but has since experienced a decline of 22.66% due to market adjustments and concerns over stock valuation [4]