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【introduction】wanxin integration, the main body of the third phase project of jinghe integration, received an additional capital of 9.55 billion yuan

china fund news reporter lu yu

jinghe integratedthe construction body of the phase iii projectwanxin integrated, includingjinghe integrated circuit, abc investment, industrial finance investmenta total of 9.55 billion yuan of capital increase was made by internal and external investors.

after the capital increase is completed, jinghe integrated's equity ratio in anxin integrated will drop to 43.75%, and it will still be the largest shareholder of anxin integrated. at the same time, the directors nominated by the company will account for more than half of the seats on the board of directors of anxin integrated, and the company will still have control over anxin integrated.

at the close of september 25, jinghe integrated's share price was 14.37 yuan, with a market value of 28.8 billion yuan.

plans to increase capital of anhui xin integrated by rmb 9.55 billion

jinghe integrated announced on the evening of september 25 that in order to enhance the comprehensive competitiveness of anhui xin integrated circuit in integrated circuit project research and development, market expansion, product mass production, etc., and optimize the capital structure, jinghe integrated plans to introduce external investors such as abc investment and gongrong financial investment to jointly increase capital in its wholly-owned subsidiary anhui xin integrated circuit.

the parties intend to increase capital by a total of 9.55 billion yuan in cash, and the capital increase funds will be mainly used for the daily operations of wanxin integrated, including but not limited to the purchase of equipment, repayment of debts related to the production and operation of the main business, etc. among them, jinghe integrated intends to invest 4.15 billion yuan to subscribe for a registered capital of 4.145 billion yuan, and external investors such as abc investment intend to invest a total of 5.4 billion yuan to subscribe for a registered capital of 5.394 billion yuan.

except for abc investment and gic investment, other external investors have different internal approval decision-making processes and progress. the final investment subject and investment amount will be negotiated and determined after their internal approval decisions are passed. after the capital increase is completed, the registered capital of anxin integration will increase from 50.001 million yuan to 9.589 billion yuan.

according to information, abc investment is a wholly-owned subsidiary of agricultural bank of china, and icbc financial investment is a wholly-owned subsidiary of industrial and commercial bank of china.

wanxin integration was established in december 2022 and is currently a wholly-owned subsidiary of jinghe integration and the construction entity of jinghe integration's phase iii project.

the total investment of jinghe integrated's phase iii project is 21 billion yuan. it plans to build a 12-inch wafer manufacturing production line with a production capacity of about 50,000 pieces per month. it will focus on the layout of 55nm-28nm display driver chips, 55nm cmos image sensor chips, 90nm power management chips, 110nm microcontroller chips and 28nm logic chips; product applications cover market areas such as consumer electronics, automotive electronics and industrial control.

the shareholding ratio will drop to 43.75%

according to the global wafer foundry revenue ranking for the first quarter of 2024 released by trendforce, jinghe integrated circuit ranks among the top nine in the world and ranks third among mainland chinese companies.

in the first half of 2024, jinghe integrated achieved operating income of 4.4 billion yuan, an increase of 48% over the same period last year; and achieved a net profit of 190 million yuan, turning losses into profits compared with the same period last year.

its main business revenue is divided by process node, with 55nm accounting for approximately 9%, 90nm accounting for approximately 45%, 110nm accounting for approximately 29%, and 150nm accounting for approximately 16%; its main business revenue is divided by product category, with ddic accounting for approximately 69%, cis accounting for approximately 16%, and pmic accounting for approximately 9%.

in this capital increase, jinghe integrated gave up part of its preferential subscription rights, and its equity ratio in anhui xin integrated will drop to 43.7504%.

however, after the capital increase is completed, jinghe integration will still be the largest shareholder of anxin integration. at the same time, the directors nominated by the company will account for more than half of the seats on the board of directors of anxin integration. the company still has control over anxin integration, and there will be no changes in the scope of the company's consolidated financial statements.

as of the end of july 2024, anhui xin integrated's total assets were 5.042 billion yuan, total liabilities were 5.026 billion yuan, and net assets were 15.9777 million yuan; from january to july 2024, anhui xin integrated's audited operating income was 0 yuan, and its loss was 34.0224 million yuan.

editor: joey

review: xu wen

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