BASICSEMI (09971) has announced a board resolution to apply for the conversion of 16,755,300 unlisted domestic shares, representing 5.51% of the company's total issued shares as of the announcement date, into H shares for full circulation. This decision, made on August 11, 2026, follows shareholder feedback received after the company's H shares were listed on the Main Board of the Stock Exchange of Hong Kong, and aligns with relevant regulatory guidelines.

Upon obtaining all necessary approvals, including filing confirmation from the China Securities Regulatory Commission and clearance from the Hong Kong Stock Exchange, and complying with all applicable laws, rules, and regulations, the unlisted domestic shares will be converted into H shares. The company will then seek listing and trading of these H shares on the Main Board through the conversion and listing process.

Under the company's articles of association and applicable Chinese laws, no shareholder meeting is required to approve the H-share full circulation initiative. As of the announcement date, BASICSEMI has not yet submitted its application or filing documents to the CSRC, nor has it applied to the Hong Kong Stock Exchange for the conversion and listing of the H shares.