“寒王”定增，大赢家曝光！

Core Viewpoint - Cambricon announced a private placement with an issue price of 1195.02 CNY per share, raising a total of 3.985 billion CNY through the issuance of 3.3349 million shares, with GF Fund being the largest subscriber [2][5][6]. Group 1: Private Placement Details - The issue price of 1195.02 CNY per share represents a 110.51% premium over the minimum issue price [5]. - The private placement was conducted through a competitive bidding process, with the pricing benchmark set on the first day of the issuance period, September 18, 2025 [5]. - The total number of shares subscribed in this issuance is 3.3349 million, with a total subscription amount of 3.985 billion CNY [6][9]. Group 2: Major Subscribers - GF Fund received 1.0109 million shares, amounting to 1.208 billion CNY, ranking first among the subscribers [6][7]. - Other notable subscribers include UBS AG and Xinhua Asset Management, with allocations of 364,010 shares and 351,458 shares, respectively [7]. Group 3: Fund Utilization - The raised funds will be allocated to projects focused on chip platforms and software platforms for large models, as well as to supplement working capital [8][9]. - The investment amounts for the projects are as follows: 205.43 million CNY for the chip platform, 145.21 million CNY for the software platform, and 47.90 million CNY for working capital [9]. Group 4: Financial Performance - As of the end of Q2 2025, Cambricon reported total assets of 8.42 billion CNY and net assets of 6.76 billion CNY, reflecting increases of 25.34% and 24.58% year-on-year, respectively [10][11]. - For the first half of 2025, the company achieved a revenue of 2.88 billion CNY, a significant increase of 4347.82% compared to the same period last year, with a net profit of 1.04 billion CNY [10][11].