Basic Semiconductors (09971) is recommended to apply for full circulation of H shares

According to Zhitong Finance App News, Basic Semiconductor (09971) issued an announcement. After considering the shareholders' intentions and guidelines received after the listing of the Company's H shares on the main board of the Stock Exchange, the board of directors reviewed and approved a proposal on August 11, 2026 to convert 16.753 million unlisted domestic shares (accounting for 5.51% of the total number of shares issued by the Company on the date of this announcement) to H Company shares (full circulation of H shares).

After obtaining all relevant approvals (including filing notices issued by the China Securities Regulatory Commission and approval from the Stock Exchange) and complying with all applicable laws, rules and regulations, the relevant unlisted domestic shares will be converted to H shares, and the Company will apply to the Stock Exchange for listing transactions (conversion and listing) of such H shares on the main board of the Stock Exchange.

According to the company's articles of association and applicable Chinese law, the Company is not required to hold a shareholders' meeting to approve the full circulation of H shares.

As of the date of this announcement, the Company has not submitted applications and filing documents to the China Securities Regulatory Commission for the full circulation of H shares, nor has it applied for conversion and listing on the Stock Exchange.