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Henan Shijia Photons Technology Proposes Up to 2.8-Billion-Yuan Shares Placement

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Henan Shijia Photons Technology (SHA:688313) proposed a private placement of up to 135.6 million shares to raise no more than 2.8 billion yuan.

Proceeds will finance three chip projects and support working capital.

The issuance, priced at a minimum of 80% of the 20-day average price, targets up to 35 qualified investors via competitive bidding.

Completion is subject to shareholder and exchange approvals, alongside registration with China's securities regulator.

Shares of the optical communication company were down 1% in recent trade.

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