ChangXin Memory Technologies said it plans to use 13 billion yuan in excess raised funds to build a new technology research and development project. The company also said it intends to provide 5 billion yuan in excess raised funds to its wholly owned subsidiary, ChangXin Memory Products (Hefei) Co., Ltd., through a capital increase and loans. The subsidiary will use the money to build the phase-two project of a memory wafer back-end testing base. The total planned investment for the two projects stands at 24.1 billion yuan and 10.8 billion yuan, respectively. The update was cited by Odaily, which referenced Sina Finance.
ChangXin Memory Technologies said it plans to use 13 billion yuan in excess raised funds to invest in a new technology research and development project.
The company also said it intends to provide 5 billion yuan in excess raised funds to its wholly owned subsidiary, ChangXin Memory Products (Hefei) Co., Ltd., through a capital increase and loans. The subsidiary will invest in the phase-two project of a memory wafer back-end testing base.
The total planned investment for the two projects is 24.1 billion yuan and 10.8 billion yuan, respectively, according to Sina Finance.
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