Shangfeng Cement announced that through a private equity investment fund invested by its wholly-owned subsidiary Ningbo Shangrong, its GEM listing application was accepted by the Shenzhen Stock Exchange on December 19, 2025. As of June 30, 2025, Yuexin Semiconductor has been granted 681 patents. As of the announcement date, Ningbo Shangfinance invested 234 million yuan to indirectly hold 1.4957% of Yuexin Semiconductor's shares through three funds. The listing is still subject to review by the Shenzhen Stock Exchange and the approval of the Securities Regulatory Commission for registration. There is uncertainty.

Shangfeng Cement announced that through a private equity investment fund invested by its wholly-owned subsidiary Ningbo Shangrong, its GEM listing application was accepted by the Shenzhen Stock Exchange on December 19, 2025. As of June 30, 2025, Yuexin Semiconductor has been granted 681 patents. As of the announcement date, Ningbo Shangfinance invested 234 million yuan to indirectly hold 1.4957% of Yuexin Semiconductor's shares through three funds. The listing is still subject to review by the Shenzhen Stock Exchange and the approval of the Securities Regulatory Commission for registration. There is uncertainty.