Fangda Partners represented Shanghai Advanced Silicon Technology Co., Ltd. (“AST”) in its series B and series B+ financing, which involved an aggregate financing amount of approximately RMB 3.2 billion. Respectively, (1) series B financing was closed in January 2022. The financing amount was approximately RMB 1.7 billion, subscribed by 9 investors including Hefei Core Silicon Equity Investment Partnership (Limited Partnership); (2) series B+ financing was closed in October 2022. The financing amount was approximately RMB 1.5 billion. The investment was led by Wuxi Capital Group (Guolian Group) and Wuxi Guodiao Fund, and followed by Jade Stone Venture and the existing shareholder Shanghai Songjiang Silicon. Fangda handled examination of shareholders’ qualifications, analysis of the procedures related to state-owned assets, drafting of meeting documents, and negotiation and revision of transaction documents, and assisted in the closing process. Fangda team was led by partner Yvette Liu, and team members include Yuan Cao, Lulu Xi and Cecilia Jiang. Founded in 2008, AST focuses on R&D, production and sales of growth system of 200mm/300mm monocrystalline silicon of integrated circuit, intraocular lens, semiconductor materials and other related products. The main products include 200mm and 300mm polished silicon wafers, epitaxial wafers and argon annealing wafers.