（文章来源：每日经济新闻） 每经AI快讯，11月21日，寒武纪公告，公司向特定对象发行股票333.49万股，每股发行价格为人民币 1195.02元，募集资金总额为39.85亿元，扣除发行费用后，实际募集资金净额为39.53亿元。公司已与保 荐机构中信证券及商业银行签订募集资金专户存储监管协议，新增全资子公司上海寒武纪信息科技有限 公司、上海寒武纪信息科技有限公司深圳分公司、安徽寒武纪信息科技有限公司、寒武纪（西安）集成 电路有限公司作为募集资金投资项目实施主体，共同实施"面向大模型的芯片平台项目"和"面向大模型 的软件平台项目"。 ...

寒武纪晚间公告，公司向特定对象发行股票333.49万股，每股发行价格为人民币1195.02元，募集资金总 额为39.85亿元，扣除发行费用后，实际募集资金净额为39.53亿元。公司已与保荐机构中信证券及商业 银行签订募集资金专户存储监管协议，新增全资子公司上海寒武纪信息科技有限公司、上海寒武纪信息 科技有限公司深圳分公司、安徽寒武纪信息科技有限公司、寒武纪（西安）集成电路有限公司作为募集 资金投资项目实施主体，共同实施"面向大模型的芯片平台项目"和"面向大模型的软件平台项目"。 （文章来源：第一财经） ...

Core Points - Company announced the use of idle raised funds to temporarily supplement working capital, not exceeding RMB 1 billion [1][2] - The decision was made during the second board and supervisory meetings held on October 31, 2025, to enhance the efficiency of fund usage [1] - The funds will be used for business expansion and daily operations related to the main business, ensuring no impact on the normal progress of fundraising investment projects [2] Summary by Sections - **Announcement Details** - Company held meetings to approve the use of idle funds for working capital [1] - The funds will be allocated to fully-owned subsidiary Shanghai Cambrian for specific projects [1] - **Usage Restrictions** - Funds will not be used for new stock placements, trading of stocks or derivatives, or changing the purpose of the raised funds [2] - The company commits to returning the funds to the dedicated account based on project progress and needs [1][2]

Core Viewpoint - Cambrian (688256) announced on October 31 the establishment of new wholly-owned subsidiaries in Shanghai, Shenzhen, Anhui, and Xi'an to implement fundraising investment projects focused on large model chip and software platforms [1] Group 1: Fundraising and Investment - The company plans to use 1 billion yuan to increase capital in Shanghai Cambrian [1] - An additional 80 million yuan will be allocated for capital increase in Anhui Cambrian [1] - Another 80 million yuan will be used for capital increase in Xi'an Cambrian [1] Group 2: Fund Management - The company will establish dedicated fundraising accounts in Shanghai Cambrian, Shenzhen branch, Anhui Cambrian, and Xi'an Cambrian [1] - The management is authorized to sign and handle the regulatory agreements for opening these fundraising accounts [1]

Core Viewpoint - The company has established new wholly-owned subsidiaries in Shanghai, Shenzhen, Anhui, and Xi'an to implement projects related to large model chip and software platforms, with a total fundraising of 100 million RMB for Shanghai and 8 million RMB each for Anhui and Xi'an [1] Group 1 - The company will use 100 million RMB to increase capital for Shanghai Hanwujing [1] - The company will allocate 8 million RMB each for capital increases in Anhui Hanwujing and Xi'an Hanwujing [1] - The adjustments made do not change the total investment amount, fundraising input, or construction content of the projects [1]

Core Insights - The introduction of the "light asset, high R&D investment" recognition standard has led to a significant increase in the number of companies applying for refinancing on the Sci-Tech Innovation Board, with 9 companies submitting applications totaling 24.796 billion yuan [1][2] - This policy effectively addresses the financing bottleneck for "light asset, high R&D investment" enterprises, promoting resource allocation towards technological innovation [1][2] - The policy is expected to further establish the Sci-Tech Innovation Board as a core platform for nurturing new productive forces and supporting technological self-reliance [1] Group 1: Company Actions - Cambrian Technology announced a plan to raise 4.98 billion yuan through a specific issuance of A-shares, with over 30% of the funds allocated for non-capital expenditures related to R&D [1][2] - The company indicated that 87.25% of the raised funds would be used for personnel salaries and product trial costs, emphasizing its commitment to R&D [2] - Dize Pharmaceutical became the first company to complete refinancing under the new standard, adjusting its financing scale to focus on core projects, thereby accelerating its clinical and industrialization processes [3] Group 2: Industry Impact - The "light asset, high R&D investment" standard enhances the financing convenience for tech-driven companies, allowing them to increase R&D investments and improve their R&D capabilities [2][4] - The policy has improved the transparency and efficiency of refinancing reviews, providing greater flexibility for companies in need of funding [4] - It is estimated that over a hundred companies on the Sci-Tech Innovation Board may meet the "light asset, high R&D investment" criteria, although only a few have submitted refinancing applications so far [4] Group 3: Recommendations - Industry experts suggest that regulatory bodies should continue to strengthen policy promotion and provide operational guidance to help companies and intermediaries better understand and apply the new standards [5]