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1, 4 billion US dollars major fund shares Hua Hong Semiconductor, Huahong Wuxi simultaneously raised 1.8 billion US dollars;
Set micro-mesh news, January 3, Hua Hong Semiconductor announced that the company intends to subscribe National Integrated Circuit Industry Investment Fund Co., Ltd. (hereinafter referred to as 'big fund') issued about 242 million shares, representing an enlarged Of the total issued shares of 18.94%.
The Subscription Price of HK $ 12.90 per Share represents a discount of approximately 18.56% to the closing price of HK $ 15.84 per Share on the very day; the net proceeds are approximately US $ 400 million and the Company intends to finance the capital injection for the JV Company pursuant to the terms of the JV Agreement.
On the same day, Huahong Semiconductor, Hua Hongli, joint venture companies Hua Hong Semiconductor (Wuxi) Co., Ltd., Major Funds and Wuxi Entities entered into the JV Agreement in respect of the Subscription Agreement and were jointly organized by Hua Hong Semiconductor, Hua Hong Grace, Great Funds and Wuxi Entities In cash, the joint venture companies were invested 400 million US dollars, 518 million US dollars, 522 million US dollars and 360 million US dollars, a total of 1.8 billion US dollars.
Pursuant to the JV Agreement, the JV Company will engage in the design, research, manufacture, testing, packaging and sale of integrated circuits and is expected to produce about 40,000 12-inch (300mm) wafers per month in the first phase of production.
In addition, Huahong Semiconductor, Huahong Grace, JV Company, National Integrated Circuit and Wuxi Entities entered into a capital increase agreement to increase the registered share capital of the JV Company from RMB6.68 million to USD1.8 billion, pursuant to which Hua Hong Semiconductor, Honghong Power, State IC and Wuxi Entities contributed cash investments of USD400 million, USD518 million, USD522 million and USD660 million respectively as capital contributions to the JV Company.
Currently, the JV Company is wholly owned by Hua Hongli, a wholly-owned subsidiary of the Company. After completion of the transactions contemplated under the JV Agreement and the Capital Increase Agreement, the JV Company will continue to be a subsidiary of Hua Hong Semiconductor and the JV Company will be held by Hua Hong Semiconductor 51.0% interest, of which 22.2% is directly held by Hua Hong Semiconductor and 28.8% is indirectly held by the Company through its wholly owned subsidiary, Hua Hong Grace. 2, MEMS import substitution Silan slightly increase 800 million ambition behind;
(Reporter Wu Jincai Gao Xiaojuan) Silan Wei (600460) recently announced that it plans to jointly invest 17 billion yuan with Xiamen Semiconductor Investment Group in Xiamen to build two 12-inch 65 ~ 90nm process chip production line; March 30, Silan Micro released the "2016 annual non-public offering plan," plans to raise funds not exceeding 800 million yuan into the annual output of 8.9 billion MEMS (micro-electro-mechanical control system) sensor Expansion project construction.
Within a year twice generous investment in MEMS project, Silan Micro intended?
According to the analysis of the industry, as the domestic semiconductor industry boom continues to rise, the MEMS sensor application prospects and the localization of new opportunities to speed up the background, as one of the few to IDM (Design and manufacture of integrated mode) as the main mode of development Comprehensive semiconductor product company, Silan two large-scale investment, especially the 800 million yuan of fixed-increase projects, will play to set their own design, manufacture and packaging and testing capabilities in one of the advantages of momentum to seize the domestic high-end MEMS sensor Market, to achieve import substitution.
Fixed-increase aims to expand MEMS production capacity, to seize the market opportunities
According to the announcement on March 30, the expansion project planned a total investment of 802530000 yuan, to be used to raise 8000000000 yuan, including a total of three sub-projects: First, MEMS sensor chip manufacturing expansion project, to be used to raise funds 37,674 Million; Second, MEMS sensor package project, to be used to raise funds 223.62 million yuan; third MEMS sensor testing capabilities to enhance the project, to be used to raise funds of 19991 million yuan.
The project construction period is 2 years, and the project products include three-axis accelerometer, six-axis inertial unit, silicon microphone sensor and geomagnetic sensor.According to the calculation, the average annual sales revenue after production (excluding tax) is 866.17 million yuan, The profit is 98.49 million yuan. The internal rate of return after income tax is 13.74%. The static investment recovery period after income tax is 7.14 years (including the construction period). The project has good economic benefits.
The person in charge of the company said that after the non-public issuance was completed, the Company will enhance the core competitiveness of its main business by relying on the technical strength of its existing MEMS sensor product development and the company's IDM business model, and compete with the Company in the MEMS market In the occupation of the initiative to achieve import substitution is of great significance.
The development of the semiconductor industry in full swing, MEMS products in short supply
Data show that global semiconductor industry investment continued to boom, equipment sales continued to record high in 2017. Global semiconductor equipment sales in the third quarter of 2017 reached 14.3 billion US dollars, an increase of 30.5%, an increase of 2% growth, following the second quarter 14.1 billion US dollars in the highest single-season sales record, once again refresh the history of the highest single-quarter sales record.In this context, China's third quarter semiconductor equipment sales 1.93 billion US dollars, an increase of 35%, the first three quarters cumulative sales of 6.45 billion US dollars, up An increase of 21.7% .The first three quarters of China's semiconductor equipment sales accounted for 15.5% of the world, is the world's third largest semiconductor equipment market.
At the same time, as the semiconductor application representative of the MEMS market is more rapid development.Data show that with the smart phones represented by terminals, automotive electronics and other fields began to use more and more sensors, coupled with the development of the Internet of Things market, China MEMS device market growth rate in 2015 up to 16.10%, while China's IC market growth rate of only 9%, slightly more than half of the MEMS market growth.
Globally, according to the research data of Yole developpement, the global MEMS market size in 2015 was 11.852 billion U.S. dollars. By 2021, the global MEMS market is expected to reach 19.697 billion U.S. dollars, with an average annual growth rate of 8.83%. In 2014-2017 China's market compound annual growth rate of 16.5%, which is double the growth rate of the global market.
Domestic high-end MEMS manufacturers scarcity, Silan micro-import substitution at shoulder
Although the current domestic semiconductor development has shown a tremendous momentum, the total domestic IC market demand is expected to reach Rmb1.3trn in 2017. According to the EE Times, the local manufacturing rate is only 9% and about 90% of the products need to be imported. By 2020 , The localization ratio is expected to rise to 15%, but due to the increase in total demand, there will still be a gap of about 200 billion U.S. dollars.
As one of the few integrated semiconductor product companies in China with IDM model as the main mode of development, Silan Microelectronics has started to build the chip manufacturing platform from the IC design business and has extended the technology and manufacturing platform to power devices, Power module and MEMS sensor package, established a more mature IDM business model.
For import substitution prospects, the company executives stressed that Silan not only has experienced IC designers, but also has more project experience in small signal processing, high-precision ADCs and low-power design required for MEMS sensors. Through long-term research on design technology and continuous exploration of process, combined with the existing achievements of domestic research institutes, a unique team of design and process has been formed. As a result, the company has been engaged in research on accelerometers, geomagnetic sensors, pressure sensors, etc. The design and verification of the accumulation of a certain basis, and introduced a three-axis accelerometer, three-axis geomagnetic sensor, six-axis inertial units and other products.
In continuous investment, Silan micro-import substitution strategy has made progress in the first half of this year, the first breakthrough in the power module products white industrial chain, to achieve a million-level shipments. White industrial chain 'air-conditioning Refrigerator washing machine 'frequency conversion technology continues to make the downstream demand for power modules continued to increase the situation, and after the white power module business has been monopolized by the European and American and Taiwanese enterprises. 3, Wen Tai Technology parent company transfer Beijing Howe stake to be married 'Princess' fate and then turn for the better;
As the world's third-largest camera chip factory Beijing Howe, pocketed the eye in 2017, from Beijing Jun is bidding $ 12 billion acquisition of the case of death, just listed on the shares of Vail repeat 'snake swallow like' and fold Halberd, the twists and turns of the story as great as brilliant, Beijing Howe also called the semi-conductive gold princess most difficult to spend the princess, but with a recent equity change, Beijing Howe's fate or recurrence of turning point.
Last year, on December 28, Beijing Howe Co., Ltd. completed the latest shareholders change and Zhuhai Rongfeng, the largest shareholder of the Company, withdrew from the market. Meanwhile, it also withdrawn from Shenzhen, a shareholder of the Company that has not signed a framework agreement with Weir shares when it acquired Beijing Howe. Of Qingdao Rongtong Min and Investment Center (hereinafter referred to as 'Qingdao Rongtong') became newly-added shareholders. In the context of Qingdao Rongtong Shareholder, the previous investment in Weir shares that failed to regroup Beijing Howe and the personal venture capital of Beijing-based chairman Jun Zheng Fund impressively in the column.
Vail shares re-admission, after the merger of shareholders vote against the dissolution of Zhuhai, Shenzhen and Shenzhen measure out, the fate of Beijing Howe to be married seems to have reached a turning point.
Two negative shareholders abstained
Business information shows that on December 28, 2017, Beijing Howe's shareholding changed.Compared before and after, Zhuhai Rongfeng, the single largest shareholder holding about 11.79% of the shares, withdrew from Shenzhen Stock Exchange while holding 1.73% shares of Beijing Howe Co., It is worth noting that, when Vail shares launched a merger with Beijing Howe last year, it signed a framework agreement with 33 of the 35 shareholders of Beijing Howe, and both of them failed to sign a contract with Shenzhen Co. However, Look, there is no direct relationship between Zhuhai Rongfeng and Shenzhen measure.
The equity change, Beijing Howe's only new shareholder Qingdao Qingdao Rong Tongmin and Investment Center led by SASAC (limited partnership), Zhuhai Rong Feng, executive partner of Zhuhai Tongpei has become Qingdao Rong Tong's executive partnership people.
On June 3 last year, Vail shares listed on the market for only 20 trading days issued the "Announcement on Suspending Major Issues" and announced on September 4 last year that the Company and the 33 shareholders Signed the "Framework Agreement on Major Assets Reorganization" and intends to purchase 86.4793% of the equity of Beijing Howhow by way of issuing shares.
Reference Beijing Jun is Beijing 100% stake in Howe assessed the purchase price of 12 billion yuan, 9.2 billion market value of Weir shares, the big deal.
Beijing Howe's first sale of shares is 100% stake sale, Zhuhai Rongfeng hold the shares are also one of them.Well shares acquisition, but this part of the equity Zhuhai Rongfeng less.Of course, the plan was just out of Zhuhai Rong Fung's opposition September 18, Wall Securities received a letter from Beijing Howe shareholder Zhuhai Rongfeng sent a written notice, Zhuhai Feng said it had sent a notice to all Beijing Howe's shareholders, clearly opposed to other shareholders will be equity transfer to Wei Seoul shares, and no intention to give up the right of first refusal.
Zhuhai Rongfeng actual controller Zhang Xue Zheng as the chairman of Wen Tai Technology Zhuhai Rong Feng was established in December 2015, Zhang Xuezheng couple holds 100% stake in the world investment holding Zhuhai Rongfeng 99.655% stake, smell the world investment is also heard Thai Technology's controlling shareholder.Finally, due to the opposition of Zhuhai Rongfeng, September 26 last year, shares announced that Vail decided to terminate this major asset restructuring matters.Hao Wei Beijing 'second' marrying finally.
Zhuhai Rongfeng exit, also means Wenteng Technology (600,745), the parent company heard the world investment gave up the right to buy Beijing Howe after the market is expected, Wentech or have the opportunity to reorganize with Beijing Howe, and thus expected to break Affected by this, Wentech shares fell more than 6% intraday on January 2. Securities Times · e Company reporter telephoned Wen Tung Technology Secretaries Office today, the relevant person said that the ownership change is the holding company level operation, and listed companies It does not matter.
Weir shares admission again
In Beijing Howe's business registration data did not disclose the details of the shareholding of shareholders, temporarily unable to understand Qingdao Rong Tong, Beijing Howe's holdings, but in the list of shareholders in Qingdao Rong Tong, the name of the shares of Vail again.
Among the shareholders of Qingdao Rongtong, Qingdao Haisiminhe Semiconductor Investment Center (hereinafter referred to as 'Qingdao Haisil'), which was established by Qingdao SASAC, holds 99.99% of the shares while Qingdao Haise shareholders, including Qingdao SASAC, which holds 91% of the shares, Its investment in Qingdao Urban Construction Group, 2.67% stake in NAVY Technologies (300456), 2.67% stake in Weir shares (603,501) and Beijing Junzheng (300,223) Liu Qiang, the company's flagship venture holding shares 1.33%.
September 26 last year, the Weir shares announcement As Zhuhai Rongfeng had no intention of giving up the right of first refusal and expressly opposed to the other shareholders of Howe, the shares transferred to the Weir shares, Weir shares promised to disclose the investor briefing session and Within two months after the resumption of the announcement, no major reorganization of assets was planned, but there was no cut between Vail shares and Beijing Howe. On September 28 last year, Beijing Howe held the board of directors to appoint Yu Renrong as Beijing Howe manager.
Vail shares with government funds appear again in the Beijing Howe shareholders list, the market also start the imagination, investors in the shares of Wentech and Vail shares to discuss the various possibilities of Beijing Howe restructuring.
However, on January 3, when Securities Times, e reporter called Verter Office of the Company, the relevant person said that the company announced on November 1 that the fund was established. The Company, as a limited partner of the partnership, The operation and management of investment business and other matters have no power to make decisions on the investment projects of the partnership enterprises. At present, the Company has no plan or intention of planning major asset restructuring matters.
People familiar with the operation of Howe Capital in Beijing said to Securities Times, e: "At present, we have a major voice in the operation of Howe Capital Beijing.
Beijing Howe predecessor of the United States Howe, was established in 1995 and landed in NASDAQ in 2000. Main business for the manufacture of image sensor chips, was once the market leader in image sensors for Apple iPhone variety of mobile phones supply sensors. Subsequently, the company's direct competitors, Sony and Samsung, gradually surpassed the United States Haworth by virtue of the rapid expansion in the low-end market. In 2015, the company now has a market share of about 12%, ranking the third in the world only At Sony and Samsung.
According to the revised notice of the plan released when Beijing Junjun released its 12 billion acquisition of Beijing Howe in December 2016, Howe America realized a net profit attributable to parent company of RMB596 million in 2014, 2015 and January-September 2016, respectively, 4.79 billion yuan, 753 million yuan. Beijing Howe Predict performance for 2017, 2018, 2019 net profit of 5.8 yuan, 680 million yuan, 850 million yuan. Performance compensator promised results 2017, 2018, 2019 Net profit was 406 million yuan, 476 million yuan, 595 million yuan
4, Huarong not give up with the right to sell Ordere 7.2 billion cross-border M & A fall?
On the evening of December 29, ORRED (17.40 suspension, clinics) issued a notice of adjustment of cross-border mergers and acquisitions plan. The Company acquired 100% equity of Hefei Ruicheng and changed to the acquisition of Hefei Ruicheng and China Wealth Hong Kong Ruicheng 16% of the shares, the transaction amount also increased from 7.185 billion yuan to 8.635 billion yuan.
The acquisition, the introduction of attention is the construction of wide assets.Familiar with the semiconductor industry in the eyes of its industry status no less than buying and buying the capital market to buy the Purple Group, with the Purple Group domestic wanton mergers and acquisitions, often repeated deflation abroad, Jian Kwong Capital won twice in the semiconductor giant NXP's assets.
This time, the capital is to build the acquisition of the original acquisition of NXP's RF business into the listed company Orr. Perhaps to avoid backdoor, the transaction side in advance to the person under the control of Orrde left Hongbo's company in Hangzhou Rui Yue Transfer of assets, due to the transfer price has not been paid, Oreide once the termination of the reorganization of this acquisition of new assets, the transaction is also a little more uncertain.
Huarong International launched a fire
The cross-border mergers and acquisitions program adjustments, or with Huarong International's report, according to the Shanghai Stock Exchange December 5 release of the inquiry letter shows that 'I recently received China Wealth LP China Huarong International Holdings reported that its Advocate to participate in this transaction.
The core asset of the deal is Dutch Ampleon Holdings, a merger of the two largest semiconductor giants. In March 2015, NXP announced the acquisition of Freescale for $ 11.8 billion, Antitrust investigation, NXP's RF business divestiture, sold to build a broad capital, that is, the establishment of Ampleon Holdings.
Hong Kong Credit Suisse is the parent company controlled by Ampleon, of which, Hefei Ruicheng owns 77.41% of Hong Kong Rui Control and China Wealth holds 22.59% of the equity.
Huarong does not give up sales rights Arrold 7.2 billion cross-border M & A fall?
Listed companies originally planned to issue shares by way of acquisition of 100% stake in Hefei Ruicheng, a total amount of 71.85 billion yuan due to China Wealth did not give up the right to sell, the program added a 16% stake in Hong Kong Rui Control acquisition, the corresponding transaction The price is tentatively set at 1.45 billion yuan.
In the original plan, Orrides proposed to raise 2.3 billion yuan of funds, as new acquisitions also need to raise funds to pay, so raise funds raised to 3.75 billion yuan, while the equity acquisition plus the amount of funds raised to reach 10.935 billion yuan.
From 7.185 billion yuan entirely by the acquisition of shares, changed to equity acquisition plus 1.45 billion cash acquisition, which may raise funds to the listed company more difficult.
Twists and turns
Interestingly, the reorganization of the major assets of Orride twists and turns .November 17, listed company announcement that the termination of major asset restructuring, and is preparing to hold an investor briefing on the afternoon of November 21.
Surprisingly, a sudden reversal of a few days later, the listed company canceled the investor briefings, and released on November 22 restructuring plan.
It should be noted that, O Reid is because the transaction equity transfer price has not yet paid to complete, as of now, the transaction has not yet paid the payment is completed.
Hefei Ruicheng originally owned 57.80%, 42.05%, 0.09% and 0.05% of the equity interests in Xinzhi, Hefei, Beijing Jiaguang, Beijing Ruijiao and Beijing Jiakun, respectively, while the construction of Guangcai Capital all took place in the execution of these four companies Partners, and Beijing Rui Hong Beijing Jia Kun is also the shareholders.
In May, September and November 2017, Hefei Xinzhi, Beijing Jiaguang and Beijing Jiakun, Beijing Ruihong and Hangzhou Ruiyue signed the Equity Transfer Agreement and the related supplemental agreement, which agreed that Hefei Xinzhi and Beijing Jiaguang together shall deliver to Beijing Jiakun, Beijing Ruihong, Hangzhou Rui Yue transfer Hefei Ruicheng 15.31%, 16.70% and 32.90% stake.
While shareholders of Hangzhou Ruiyue were Zuo Hongbo and Zuo Xin respectively, of which Zuo Hongbo is the largest shareholder of the listed company, and if the above transaction is completed, Hangzhou Rui Yue will hold 8.86% of the shares of the listed company, while Hefei Xinzhi, Beijing Jiaguang , Beijing Ruihong, Beijing Jiakun will jointly hold 18.07% of the shares of listed companies, Zuo Hongbo, Chu Shuxia couples will jointly hold 23.26% shares of the company.
If Hefei Xinzhi, Beijing Jiaguang will not transfer part of the shares to Hangzhou Rui Yue, the four companies together will reach 26.93% of the total share, more than Zuo Hongbo, Chu Shuxia couple holding shares, the actual controller of listed companies have the risk of change .
From this perspective, the advance transfer of Hefei Ruicheng shares, perhaps to avoid backdoor restructuring, but as of the plan disclosed, Hangzhou Rui Yue related payments have not been paid.
At present, part of the equity transfer paid by Hangzhou Rexroth is from a trust loan of Bohai Trust which does not exceed RMB1.5 billion and the term of the loan expires on January 19, 2018. As for the balance, Hangzhou Rexroth has not yet been involved with Related parties sign the final agreement.
Build a broad asset plan
It is reported that Jian Kwong Asset is a state-controlled asset management company focused on the investment and mergers and acquisitions of the IC industry and strategic emerging industries, with the major business objective of investing around the IC industry and other strategic emerging industries.
Among them, CCRE Capital shareholders are CCT Capital Management (Tianjin) Co., Ltd. and Jianping (Tianjin) Science and Technology Information Consulting Partnership (Limited Partnership), which hold 51% and 49% respectively of the equity interests, and CCT Capital Management (Tianjin) Co., Ltd. is also the parent company of CCB Huijin Investment, a wholly-owned unit of Central Huijin.
According to previous media reports, in 2015, CCB Capital acquired RF business from NXP at a cost of 1.8 billion U.S. dollars (equivalent to 11.682 billion yuan), and is now sold to the listed company Orret. Hefei Ruicheng owns Hong Kong Rui Controlled 77.41% stake, China Wealth sale of Hong Kong-controlled 16% of the shares, if the transaction is completed, Orrides will hold 93.41% stake in Hong Kong-controlled Swiss, the transaction price of 8.635 billion yuan, according to this standard, Hong Kong Ruikang Worth 9.896 billion yuan.
Two years ago bought 18 billion US dollars, now sold to listed companies at a discount, perhaps Jiankang asset fancy, A shares of this capital platform.Jian Guang Capital Assets Review Committee Chairman Li Bin has said: 'Building wide assets is to look at the long-term goal It will not give up long-term goals and positions for short-term interests. '
The original Hangzhou Rui Yue related funds have been unable to pay off, and the acquisition of new assets, but also to bring uncertainty to the transaction .If the reorganization delays in the completion, perhaps Jian Kwong assets may change the listed company into assets.