On the evening of February 15, Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) (300236, SZ) issued several announcements, including the transfer of 100% equity of Shanghai Huiyan Material Technology Co., Ltd. (hereinafter referred to as Shanghai Huiyan) for 33 million yuan. At the same time, it plans to increase the capital of Suzhou bonarun Electronic Materials Co., Ltd. (hereinafter referred to as Bora Electronics) with its own funds by 20 million yuan. After the capital increase is completed, it will hold 9.1% equity of Bora electronics.
In addition, Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) also said that it had recently signed an investment cooperation agreement with the Management Committee of Hefei Xinzhan high tech Industrial Development Zone to reach an agreement on the investment and construction of phase II project of Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) second production base (hereinafter referred to as phase II project) within the jurisdiction of the management Committee of Hefei Xinzhan high tech Industrial Development Zone, with a total investment of about 320 million yuan.
overweight grinding fluid project
On February 15, Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) signed the equity transfer agreement with Shanghai Xinhui Asset Management Co., Ltd. (hereinafter referred to as Shanghai Xinhui) and Shanghai ance Semiconductor Technology Co., Ltd. (hereinafter referred to as ance semiconductor), and transferred 100% equity of Shanghai Huiyan for 33 million yuan.
Shanghai Huiyan is 70% owned by Shanghai Xinhui and 30% owned by ance semiconductor. Therefore, Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) and the controlling shareholder of Shanghai Huiyan are Shanghai Xinhui, and this transaction constitutes a connected transaction.
According to the announcement, Shanghai Huiyan was established in March 2020, mainly engaged in the research and development of grinding fluid (CMP slurry) for semiconductor chip production process. From January to September in 2020 and 2021, Shanghai Huiyan achieved operating income of 0 yuan and 884956 yuan, and net profit of -7.4138 million yuan and -10.7349 million yuan (unaudited data).
Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) said that the pricing basis of this transaction was the actual contribution of 30 million yuan from Shanghai Xinhui to Shanghai Huiyan, which provided financial support for the development of the chemical mechanical grinding fluid project of key process materials for integrated circuit manufacturing, and ensured the preliminary research and development, team construction, laboratory engineering construction, production technology capacity construction and other work of the chemical mechanical grinding fluid project, And avoid the company’s or some early-stage R & D risk losses, and fulfill the due responsibilities and obligations as a shareholder for the development of chemical machinery grinding fluid project. Acer semiconductor has provided R & D and technical support for the development of grinding fluid of Shanghai Huiyan company. Now there are grinding fluid related products to meet the needs of some customers.
At the same time Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) also said that through the cooperative development of chemical mechanical grinding technology, after more than a year of efforts, the company has achieved remarkable results and obtained some customer orders. The company will use the platforms and resources of listed companies to strive for more market resources for Shanghai Huiyan, accelerate the replacement speed of product localization, achieve the company’s strategic objectives one day earlier, and accelerate the rapid realization of the national chip localization policy.
the company with increased capital has been established for less than 3 months
Founded on December 31, 2021 with a registered capital of 30 million yuan, Bora electronics is mainly engaged in the development, production and sales of abrasive and polishing materials. Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) signed a capital increase agreement with Bora electronics, and plans to increase the capital of Bora electronics by 20 million yuan with its own funds. After the capital increase is completed, the listed company will hold 9.1% equity of Bora electronics.
Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) said that in order to continuously expand the business scope and product application field, the company continues to seek development and enter new markets, invests in Bora electronics with its own funds, has a synergistic development effect with the company’s existing CMP grinding fluid products, and promotes the in-depth development of the company’s grinding fluid project. At present, the products related to Bora electronic grinding fluid are in the stage of on-line test and small batch production and sales, but there may be a risk that the market development does not meet the expectations. The company will make full use of the existing technology and market advantages and the advantages of mature operation and management mode to reduce the above investment risks.
In addition, Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) recently signed a cooperation agreement with the Management Committee of Hefei Xinzhan high tech Industrial Development Zone and reached an agreement on the investment and construction of phase II project by listed companies within the jurisdiction of the Management Committee of Hefei Xinzhan high tech Industrial Development Zone. The total investment of the project is about 320 million yuan, covering an area of 40 mu, mainly engaged in chip cleaning fluid R & D, production and sales of grinding fluid series and other key process chemical materials for integrated circuits. After the project is completed, the annual output value is about 500 million yuan. It is expected to achieve mass production in 2024 and full production in 2030. The estimated annual comprehensive energy consumption of the project is about 2600 tons of standard coal equivalent.
Shanghai Sinyang Semiconductor Materials Co.Ltd(300236) said that since the project construction takes a certain time, the signing of this agreement will not have a significant impact on the company’s operating performance in 2022. The signing of this agreement is in line with the strategic development needs of the company, further enriches the product layout of the company, and is conducive to accelerating the upgrading of production scale and promoting the development and growth of the company.
