Shang Cheng's board of directors approved a private placement of 10 million ordinary shares at NT$12.19 per share on November 10, with a reference date of November 24. The reference price was calculated at NT$15.23, and the offering price was set at 80% of this benchmark. Proceeds will be used to strengthen operational capital and enhance financial flexibility. Investors must comply with Taiwan's Securities Exchange Act provisions for qualified subscribers.

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