RF Semi, Two-Day Delay in Capital Increase Payment... "No Disruption Due to Overseas Remittance Time"

RF Semi announced on the 30th that the payment date for the 20 billion KRW third-party allotment capital increase to Jinpyeong Electronics has been changed to June 1.

The company explained, "The physical time required for procedures in the process of receiving funds through a Chinese bank caused the delay," adding, "Since the remittance confirmation for the 20 billion KRW has already been verified, there is no disruption in funding or change in the amount."

Jinpyeong Electronics is a secondary battery specialized company that controls RF Semi and Hong Kong Jinpyeong. Hong Kong Jinpyeong has Shanghai Jinpyeong and Shanxi Lanwan Jinpyeong as its affiliates.

An RF Semi official stated, "The schedule was delayed due to complicated procedures such as foreign exchange transaction laws," emphasizing, "We will promptly complete the third-party allotment capital increase payment and accelerate the LFP (Lithium Iron Phosphate) battery business together with the largest shareholder, Jinpyeong Electronics."