Guangdong Fuxin Technology Co. Ltd. A

Fuxin Technology released after market close on September 22 its plan for a 2026 private placement of A-shares to specific investors, with total funds to be raised not exceeding 270 million yuan. This is the company's first refinancing since its listing on the STAR Market in April 2021. After deducting issuance expenses, the proceeds will be allocated to three projects. The miniature semiconductor thermoelectric cooling device production and construction project has a total investment of 202 million yuan, of which 150 million yuan will come from the raised funds. The technological transformation and informatization upgrade project has a total investment of 53.81 million yuan, of which 40 million yuan will come from the raised funds. Another 80 million yuan will be used to replenish working capital. The Micro TEC project will be implemented by the controlling subsidiary Guangdong Fuxin Thermoelectric Device Technology Company within its existing plant in Shunde District, Foshan City, with a construction period of three years. Once completed and at full production, it will add annual Micro TEC capacity of 42 million units. The company said that AI computing power development has driven explosive demand for high-speed optical modules, and Micro TEC, as the core temperature control component for optical modules, has seen surging demand. In the first half of 2026, Micro TEC sales revenue in the communications sector reached 56.16 million yuan, up 145.96 percent year on year. Products for 400G and 800G high-speed data communication optical modules are already in mass supply, 1.6T products are in small-batch supply, and products for co-packaged optics technology are in the sampling and verification stage. The issuance targets no more than 35 specific investors through competitive bidding, with the issue price not lower than 80 percent of the average stock trading price over the 20 trading days before the pricing base date. The number of shares issued will not exceed 30 percent of the total share capital before the issuance, and subscribed shares may not be transferred within six months from the end of the issuance.