South Asia New Materials: plans to raise funds of no more than 900 million RMB for research and industrialization projects of high-end, high-frequency, high-speed copper clad boards based on AI computing power.

Announcement from South Asia New Materials: The Board of Directors of the company has approved the proposal regarding the company's compliance with the conditions for issuing A shares to specific objects. The number of shares to be issued this time shall not exceed 70,431,300 shares, and the total amount of funds to be raised shall not exceed 900 million yuan, which will be used for the research and industrialization project of high-level, high-frequency, high-speed copper-clad laminate based on AI computing power, as well as for supplementing working capital. The issuance will be offered to no more than 35 specific objects in compliance with laws and regulations. The undistributed profits of the company before this issuance will be shared by both new and existing shareholders after the completion of this issuance.