The specific plan is that Siu Yi Chong for 533 million Hong Kong dollars to subscribe for SMIC issued 50,003,371 shares, the subscription price of 10.65 Hong Kong dollars / share.SMC International November 29, 2017 at 10.65 Hong Kong dollars per placing of 241,418,625 shares placement, Placing of shares to not less than six independent placees.
According to the disclosure, Siu Yi Chuang and SMIC placing subscription shares will be delivered on December 6. After the transaction is completed, Siu Yi Chong holds SMIC 1.02% of the shares.
Siu Yi innovation that the company involved in subscription of SMIC this placement of shares, is based on SMIC's future development prospects of recognition, help to further consolidate the strategic cooperation partnership between the two parties in September this year, Siu Yi Innovative Disclosure and SMIC strategic cooperation agreement, both sides by the end of 2018 raw material wafer procurement amount will reach 1.2 billion yuan or more.
SMIC is one of the world's leading IC foundries and the largest and most technologically advanced integrated circuit foundry in mainland China According to public information, SMIC's audited total assets in 2016 are 10,115,278 Net assets of US $ 5,403,227 and operating income of US $ 2,914,180 and net profits of US $ 316,434 respectively. As of June 30, 2017, the unaudited total assets of US $ 10,801,650 and net assets of US $ 5,945,084 and operating income of US $ 1,544,278 and net profits US $ 97,529.
Siu Yi innovation is currently dominated by MCU and NorFlash memory business, and began to get involved in DRAM, improve product line .10 end of the year, Siu Yi innovation and Hefei Industrial Investment Holdings (Group) Co., Ltd. signed a "cooperation on memory R & D projects agreement" , The two sides agreed to carry out R & D projects of 12-inch wafer memory (including DRAM, etc.) of 19nm memory of process technology in Hefei with a project budget of up to 18 billion yuan.