Solid State System : 3S board of directors resolved to conduct the private placement of 3S common shares.

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Provided by: Solid State System Co.,Ltd
SEQ_NO	1	Date of announcement	2022/03/03	Time of announcement	17:11:05
Subject	3S board of directors resolved to conduct the private placement of 3S common shares.
Date of events	2022/03/03	To which item it meets	paragraph 11
Statement	1.Date of the board of directors resolution:2022/03/03 2.Types of securities privately placed:Common stock 3.Counterparties for private placement and their relationship with the Company:Handle in accordance with Article 43-6 of the Securities Exchange Act and related regulations 4.Number of shares or bonds privately placed:Not more than 20 million shares 5.Amount limit of the private placement:Not more than 20 million shares 6.Pricing basis of private placement and its reasonableness: (1) The issue price of the privately-placed common shares shall not be lower than 80% of the higher price calculated on the following two bases before the price determination date: 1.The simple average closing price of the common shares of the Company for either the one, three, or five business days before the price determination date, after adjustment for any distribution of stock dividends, cash dividends or capital reduction. 2.The simple average closing price of the common shares of the Company for the thirty business days before the price determination date, after adjustment for any distribution of stock dividends, cash dividends, or capital reduction. 3.The actual issue price shall not be less than the range decided by the shareholders' meeting. It is hereby proposed to authorize the Board of Directors to determine the issue price based on the situation of specific persons and the market conditions. (2) The rationality of the pricing of the private placement: 1.The rationality of the method for the determination of the pricing of the private placement: Since such method refers to the market price of the common shares of the Company and is in line with the practices of the issue market, the pricing of the privately-placed common shares shall be reasonable. 2.The rationality of the applicable regulation for the pricing of the private placement: Since such method complies with Directions for Public Companies Conducting Private Placements of Securities, the pricing of the privately-placed common shares shall be reasonable. 7.Use of the funds raised in the private placement: The main purpose of such private placement of securities in one or two rounds is to supplement the working capital. 8.Reasons for conducting non-public offering: The reasons for not taking a public offering: Considering the lower cost of the capital, the effectiveness of the funding process, the Company desires to raise the capital through the private placement of securities. In addition, if the Board of Directors is authorized to conduct the private placement of securities according to the actual operational needs of the Company, it will be helpful for the Company to increase the mobility and flexibility of the fundraising. In short, it is indeed necessary to raise the capital through the private placement of securities. 9.Objections or qualified opinions from independent Board of Directors: NA 10.Actual price determination date:The board of directors is authorized to make decisions based on the situation of specific persons and market conditions in the future. 11.Reference price:Not yet decided. 12.Actual private placement price, and conversion or subscription price:The board of directors is authorized to make a decision after the resolution of the shareholders meeting is passed. 13.Rights and obligations of these new shares privately placed: Same as the issued ordinary shares of the company. 14.Reference date for any additional share exchange, stock swap, or subscription:Not applicable. 15.Possible dilution of equity in case of any additional share exchange, stock swap, or subscription:Not applicable. 16.For additional share exchange or subscription, possible influence of change in shareholding ratio of TPEx -listed common shares if all privately placed corporate bonds are converted and shares subscribed for (no.of TPEx -listed common shares (a), (a) / outstanding common shares):NA 17.Please explain any countermeasures for lower circulation in shareholding if the aforesaid estimated no.of TPEx -listed common shares does not reach 5 million and the ratio does not reach 25%:NA 18.Any other matters that need to be specified:NA