Core Viewpoint - The company, Xi'an Pairui Power Semiconductor Technology Co., Ltd., is adjusting its fundraising project by changing part of the construction content, project location, and extending the implementation period due to market conditions and operational considerations [2][9]. Fundraising Project Adjustment Overview - The company raised a total of RMB 318.4 million by issuing 80 million shares at RMB 3.98 per share, with a net amount of RMB 269.31 million after deducting issuance costs [1]. - The adjustments were approved in meetings held on January 17, 2024, and February 2, 2024, and will be submitted for shareholder approval [2][8]. Original and Adjusted Project Details - The original project was focused on the industrialization of high-power semiconductor devices, with a total planned investment of RMB 57 million, using RMB 26.93 million from the raised funds [4][6]. - The adjusted project will now focus on 5-inch and 6-inch thyristors, IGCT, FRD, and other power semiconductor modules, with a revised total investment of RMB 53.53 million, maintaining the use of RMB 26.93 million from the raised funds [7][4]. Reasons for Adjustment - The company identified intense competition in the SiC market, dominated by international firms, leading to the decision to cancel SiC-related R&D and production plans due to high investment costs and limited market entry channels [6][3]. - The adjustments are deemed necessary to align with market conditions and the company's strategic development, aiming to reduce investment risks and protect shareholder interests [9][8]. Review and Approval Process - The adjustments have been reviewed and approved by the company's board and supervisory committee, and are pending approval from the shareholders [9][8]. - The sponsor institution, China International Capital Corporation, has confirmed that the adjustments comply with relevant regulations and do not harm shareholder interests [9].