On December 20, the official website of the China Securities Regulatory Commission revealed that Xinhe Semiconductor Technology Co., Ltd. and its advisor, CITIC Securities, submitted a report on the completion of the counseling work to the Shanghai Securities Regulatory Bureau. CITIC Securities wrote in its conclusion: After guidance, CITIC Securities believes that the mentors have the corporate governance structure, accounting infrastructure, and internal control system required to become a listed company, and fully understand the characteristics and attributes of various sectors of the multi-level capital market; the mentors, directors, senior managers, shareholders and actual controllers holding more than 5% of the shares have fully grasped the responsibilities and obligations relating to the issuance and listing, standardization of operation, and knowledge of information disclosure and fulfillment of commitments, etc., and have established a sense of integrity, self-discipline, and rule of law when entering the securities market.

On December 20, the official website of the China Securities Regulatory Commission revealed that Xinhe Semiconductor Technology Co., Ltd. and its advisor, CITIC Securities, submitted a report on the completion of the counseling work to the Shanghai Securities Regulatory Bureau. CITIC Securities wrote in its conclusion: After guidance, CITIC Securities believes that the mentors have the corporate governance structure, accounting infrastructure, and internal control system required to become a listed company, and fully understand the characteristics and attributes of various sectors of the multi-level capital market; the mentors, directors, senior managers, shareholders and actual controllers holding more than 5% of the shares have fully grasped the responsibilities and obligations relating to the issuance and listing, standardization of operation, and knowledge of information disclosure and fulfillment of commitments, etc., and have established a sense of integrity, self-discipline, and rule of law when entering the securities market.