Zhongjing Electronics invests in Huayang Electronics to further deploy semiconductor packaging materials

A few days ago, Zhongjing Electronics issued an announcement saying that it plans to increase its capital and invest in Tianshui Huayang Electronic Technology Co., Ltd. (hereinafter referred to as “Huayang Electronics”) to promote the company’s further development in the field of semiconductor packaging materials.

Increased capital of 29.68 million yuan and held 6.98% of the shares

The announcement shows that on September 8, Zhongjing Electronics and Huayang Electronics and its controlling shareholder and actual controller Kang Xiaoming signed the “Tianshui Huayang Electronic Technology Co., Ltd. Capital Increase Agreement” and “Tianshui Huayang Electronic Technology Co., Ltd. Capital Increase” Supplementary Agreement to the Agreement” (hereinafter referred to as the “Agreement” and the “Supplementary Agreement”).

The valuation of the target company of this capital increase before the capital increase is 395 million yuan. According to the agreement, Zhongjing Electronics plans to invest RMB 29.68 million to increase the capital of Huayang Electronics, of which RMB 5.6 million is included in the registered capital of Huayang Electronics, and RMB 24.08 million is included in the capital reserve. After this capital increase, Zhongjing Electronics holds Huayang Electronics. 6.98% stake in Yang Electronics. All the capital increase will be used for the new IC lead frame etching production line of the target company.

The announcement pointed out that this foreign investment has been reviewed and approved at the board meeting. According to the relevant provisions of the “Articles of Association”, this investment does not need to be submitted to the general meeting of shareholders for voting. This investment does not constitute a connected transaction, nor does it constitute a major asset reorganization under the Administrative Measures for Major Asset Restructuring of Listed Companies.

According to the data, Huayang Electronics was established in July 2009. Its main business is the research and development, production and sales of lead frames for semiconductor and integrated circuit packaging. The main customers include Huatian Technology, Chengdu Yuxin, Nanjing Sibang, ASE (ASE). ), Changdian Technology, Tongfu Microelectronics, SPIL, Amkor, etc.

According to reports, the IC lead frame, as the chip carrier of the integrated circuit, is a key structural member that realizes the electrical connection between the terminal of the internal circuit of the chip and the outer lead by means of bonding materials, forming an electrical circuit, and serves as a connection with the external wire. The bridge function is a very important basic material in the electronic information industry.

Huayang Electronics focuses on IC lead frame products. The production process is divided into high-speed stamping method and high-precision etching method according to the degree of precision. Huayang Electronics has mastered the above two production processes, and can produce lead frame products of various specifications and models, including 7 series of integrated circuit lead frames such as QFN, DFN, FC, QFP, SOP, DIP, and SOT.

The data shows that in 2019 and the first half of 2020, Huayang Electronics’ operating income was 129 million yuan and 77.54 million yuan respectively, and its net profit was 16.14 million yuan and 8 million yuan respectively.

Layout in the field of semiconductor packaging materials

Founded in 2000, Zhongjing Electronics is mainly engaged in the R&D, production, sales and service of printed circuit boards (PCBs). ), rigid-flex board (RF) and flexible circuit board assembly (FPCA), etc.

This investment is the extension and expansion of Zhongjing Electronics in the industrial chain. The announcement pointed out that the company has been deeply involved in the printed circuit board industry, and has accumulated rich industry experience in microelectronics technology, project operation and other aspects. The main customers of the target company are well-known companies in the field of semiconductor packaging and testing. This investment in the target company can form a good synergy between technology and customers, which will help promote the company’s further development in the field of semiconductor packaging materials.

Prior to this, Zhongjing Electronics has made some moves in the field of semiconductor packaging materials. In May this year, Zhongjing Electronics announced that it will build the “Zhongjing Electronics Semiconductor Industry Project in Zhuhai Gaolan Port Economic Zone” by obtaining relevant land use rights through public auctions, mainly for the production of consumer and advanced packaging high-end IC substrates and other products. At the same time, the company plans to establish a wholly-owned subsidiary, Zhuhai Zhongjing Semiconductor Technology Co., Ltd., with its own capital of 100 million yuan.

At that time, Zhongjing Electronics stated that it would invest in the establishment of a wholly-owned subsidiary of “Zhongjing Semiconductor” to realize the upgrading of the company’s PCB product structure and technology, and to realize the upgrading from PCB to semiconductor and integrated circuit related technologies and industries. The investment and construction of this project is in line with the company’s long-term development strategy and vision planning.

From the previous investment in the IC carrier board project to the investment in the IC lead frame company this time, Zhongjing Electronics is expanding its layout in the field of semiconductor packaging materials.

The Links:   FZ800R33KF2C MCC26-14IO1B

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