BASIC SEMI (09971.HK): Proposed Application for Full Circulation of H Shares, 16,755,283 Unlisted Domestic Shares to Be Converted into H Shares

NewTimeSpace News: On 11 August 2026, BASiC Semiconductor Co., Ltd. (stock code: 09971) announced that the Board of Directors had on the same day considered and approved a proposed application to convert 16,755,283 unlisted domestic shares (representing 5.51% of the total issued shares of the company as of the date of the announcement) into H shares of the company, i.e. full circulation of H shares.

According to the announcement, the proposed application is made in accordance with, among others, the guidelines issued by the China Securities Regulatory Commission (CSRC), including the "Business Guidelines for Application for 'Full Circulation' of Unlisted Shares within the Territory of H-Share Companies" and the "Interim Measures for the Administration of Overseas Issuance and Listing of Securities by Domestic Enterprises". Upon obtaining all relevant approvals (including the filing notification issued by the CSRC and the approval of the Stock Exchange) and complying with all applicable laws, rules and regulations, the relevant unlisted domestic shares will be converted into H shares, and the company will apply to the Stock Exchange for the listing and trading of such H shares on the Main Board of the Stock Exchange. In accordance with the company's articles of association and applicable PRC laws, no shareholders' meeting is required to approve the full circulation of H shares.

As of the date of the announcement, the company has not yet submitted the application and filing documents to the CSRC in respect of the full circulation of H shares, nor has it applied to the Stock Exchange for the conversion and listing. The full circulation of H shares and the conversion and listing are subject to other relevant procedures required by the CSRC, the Stock Exchange and relevant domestic and overseas regulatory authorities, and the company will make further announcements on the progress in due course.

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