Hua Hong Semiconductor Limited (01347) announced that the Extraordinary General Meeting held on 10 February 2026 passed all proposed resolutions by poll. Key approvals covered the major and connected transaction for acquiring share capital of the target, the Whitewash Waiver, the proposed non-public issuance of RMB shares to raise supporting funds, and the Special Deal.

According to the announcement, the Proposed Acquisition has secured approvals from state-owned assets supervision and administration authorities, as well as independent shareholders. The Whitewash Waiver, granted by the Executive on 9 February 2026, required more than 75% of the votes cast by Takeovers Code Independent Shareholders to be in favor. The Special Deal also obtained conditional consent.

Upon completion of the Proposed Acquisition, the total share count of the company is expected to increase from 1,737,632,193 shares to 1,928,400,585 shares, while the shareholding of the Huahong Concert Group may rise to approximately 41.16%. Should the subsequent non-public issuance of RMB shares be completed at an indicative issue price of RMB111.95, the overall share capital could reach 1,995,897,556 shares, with public shareholders holding around 57.11%.

The remaining major step for final completion is the receipt of approvals from the Shanghai Stock Exchange and the China Securities Regulatory Commission. Shareholders and investors are advised to pay attention to any forthcoming announcements regarding progress and regulatory clearance.