【AP Memory】Announcement of Board Resolution to Change the 2021 Capital Increase Plan for Overseas Depositary Receipts Fund Utilization
AP Memory announced a change in its capital increase plan for funds raised through overseas depositary receipts in 2021. The funds, originally earmarked for equipment purchase and R&D investment, will now be fully reallocated to working capital to strengthen financial structure and enhance competitiveness in response to evolving market conditions.
📋 Article Processing Timeline
- 📰 Published: May 6, 2026 at 09:00
- 🔍 Collected: May 7, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 7, 2026 at 08:17 (17 min after Collected)
1. Date of board resolution on change: 2026/05/06
2. Date of original plan's effective declaration: 2022/01/25
3. Date of additional issuance: Not applicable
4. Reason for change:
Our company's original capital utilization plan was for the purchase of machinery and equipment and investment in research and development resources. However, due to the recent maturity of 3D stacking and advanced process technologies, the industry ecosystem has gradually entered a phase of autonomous investment. Coupled with the expansion of our company's operational scale, we have adjusted our capital utilization direction from the originally planned capital expenditures to supplementing working capital. This is to meet the increased capital needs arising from future operational growth, ensure sufficient and stable funds for daily operations and business expansion, further strengthen the company's financial structure, improve overall operational efficiency, and enhance market competitiveness.
5. Capital raising plan before and after each change:
Before change: The total amount of funds raised was US$189,760 thousand, planned for the purchase of machinery and equipment totaling US$141,759 thousand, and investment in research and development resources, including R&D team building expenses of US$44,352 thousand and IC design software expenses of US$3,649 thousand. The original progress for capital utilization was scheduled to be completed by Q4 2024.
After this change: The adjusted amount is US$181,002.06 thousand, and the entire amount will be used to supplement working capital.
6. Estimated execution progress: The changed plan is expected to be completed by Q4 2027.
7. Estimated completion date: Q4 2027.
8. Estimated possible benefits:
(1) Reduce capital expenditures and depreciation burden.
(2) Create highly predictable revenue and cash flow.
9. Difference from originally expected benefits:
The expected benefits of the original capital utilization plan primarily came from the capacity and technological development benefits driven by fixed asset investment and R&D input. After this plan change, the capital utilization benefits will shift to strategic procurement to improve overall capital efficiency. Compared to the original plan, this method of capital utilization will help support working capital needs, reduce financial pressure, and enhance the company's timeliness and stability in responding to operational growth and market changes.
10. Impact of this change on shareholder equity: The change will help strengthen the company's financial health and improve overall resource utilization efficiency, thus having a positive impact on shareholder equity.
11. Summary of opinion from original lead underwriter: Not applicable
12. Other matters that should be specified: This plan change proposal was approved by the board of directors on May 6, 2026, and will subsequently be reported to the Central Bank for approval in accordance with the law, and submitted to the shareholders' meeting for ratification.
2. Date of original plan's effective declaration: 2022/01/25
3. Date of additional issuance: Not applicable
4. Reason for change:
Our company's original capital utilization plan was for the purchase of machinery and equipment and investment in research and development resources. However, due to the recent maturity of 3D stacking and advanced process technologies, the industry ecosystem has gradually entered a phase of autonomous investment. Coupled with the expansion of our company's operational scale, we have adjusted our capital utilization direction from the originally planned capital expenditures to supplementing working capital. This is to meet the increased capital needs arising from future operational growth, ensure sufficient and stable funds for daily operations and business expansion, further strengthen the company's financial structure, improve overall operational efficiency, and enhance market competitiveness.
5. Capital raising plan before and after each change:
Before change: The total amount of funds raised was US$189,760 thousand, planned for the purchase of machinery and equipment totaling US$141,759 thousand, and investment in research and development resources, including R&D team building expenses of US$44,352 thousand and IC design software expenses of US$3,649 thousand. The original progress for capital utilization was scheduled to be completed by Q4 2024.
After this change: The adjusted amount is US$181,002.06 thousand, and the entire amount will be used to supplement working capital.
6. Estimated execution progress: The changed plan is expected to be completed by Q4 2027.
7. Estimated completion date: Q4 2027.
8. Estimated possible benefits:
(1) Reduce capital expenditures and depreciation burden.
(2) Create highly predictable revenue and cash flow.
9. Difference from originally expected benefits:
The expected benefits of the original capital utilization plan primarily came from the capacity and technological development benefits driven by fixed asset investment and R&D input. After this plan change, the capital utilization benefits will shift to strategic procurement to improve overall capital efficiency. Compared to the original plan, this method of capital utilization will help support working capital needs, reduce financial pressure, and enhance the company's timeliness and stability in responding to operational growth and market changes.
10. Impact of this change on shareholder equity: The change will help strengthen the company's financial health and improve overall resource utilization efficiency, thus having a positive impact on shareholder equity.
11. Summary of opinion from original lead underwriter: Not applicable
12. Other matters that should be specified: This plan change proposal was approved by the board of directors on May 6, 2026, and will subsequently be reported to the Central Bank for approval in accordance with the law, and submitted to the shareholders' meeting for ratification.