On December 28, Advanced Micro-Fabrication Equipment Inc.China(688012) (688012) announced that it plans to invest 100 million yuan in ideal wanlihui at the pre investment valuation of 3.6 billion yuan of Shanghai ideal wanlihui Film Equipment Co., Ltd. (hereinafter referred to as “ideal wanlihui”), and ideal wanlihui’s business is mainly focused on domestic substitution in the field of photovoltaic heterojunction.
The transaction price is at a premium of 9.12% on the basis of the evaluation result of RMB 3.299 billion. After the capital increase, Advanced Micro-Fabrication Equipment Inc.China(688012) shareholding ratio increased from 3.69% to 4.77%.
Regarding the premium, Advanced Micro-Fabrication Equipment Inc.China(688012) said that it was mainly based on the team professional background of ideal wanlihui, the judgment of the overall commercial value of ideal wanlihui, such as years of technology accumulation, leading technology position and outstanding product R & D ability in hjt photovoltaic equipment industry, the superior performance of existing products and the broad market space of photovoltaic equipment market under the “double carbon” situation in the future.
Advanced Micro-Fabrication Equipment Inc.China(688012) said that the company’s foreign investment is carried out to improve the business layout. Through the investment in ideal wanlihui, the company is expected to form a synergistic development effect with ideal wanlihui in the field of Pan semiconductor key equipment.
The announcement shows that ideal wanlihui continues to be committed to the research and development of cutting-edge high-end photovoltaic equipment to realize domestic substitution, cost reduction and efficiency increase of equipment. The developed mass-produced VHF-PECVD equipment helps customers obtain heterojunction battery conversion efficiency of 26.30%. Ideal wanlihui has Shanghai R & D center and Taixing production base, with an annual production capacity of more than 15gw.
It is understood that at present, Cecep Solar Energy Co.Ltd(000591) cells in the international photovoltaic market mainly include crystalline silicon (including monocrystalline silicon and polycrystalline silicon), amorphous silicon thin film, cadmium telluride thin film, copper indium gallium selenium thin film solar cells, amorphous / single crystal heterojunction (SHJ), etc. heterojunction (SHJ) is a new technology with relatively simplified process, controllable cost and conversion rate of about 25%.
PECVD is a plasma enhanced chemical vapor deposition method, which is an advanced method to form thin films on substrates. PECVD deposited thin films have excellent electrical properties, good substrate adhesion and excellent step coverage. Because of these advantages, PECVD is widely used in the fields of ultra large scale integrated circuits, optoelectronic devices, MEMS and so on.
Relevant data pointed out that the PECVD equipment previously used in China was imported and “stuck” by giants such as American Yingcai, European Mayer Borg and Japanese vacuum. Ideal wanlihui independently developed PECVD equipment in China, and the R & D process can be directly used for mass production of equipment.
According to public information, ideal wanlihui was established on May 21, 2013, the legal representative is sun Xidong, and the registered capital is RMB 153 million. Shanghai Lianhe Investment Co., Ltd. is the major shareholder of the company, holding 17.9%. In December 2020, Advanced Micro-Fabrication Equipment Inc.China(688012) , Shanghai Lianhe Investment Co., Ltd. and other 20 shareholders increased a total of 549 million yuan to ideal wanlihui.
In addition, the announcement also shows that ideal wanlihui is operating at a loss. As of September 30, 2021, ideal wanlihui has total assets of 780 million yuan, total liabilities of 160 million yuan and net assets of 617 million yuan. In the first three quarters of this year, the revenue was 52.5888 million yuan, the net profit was -35.2742 million yuan, and the deduction of non net profit was -43.5857 million yuan.
(Securities Times · e company)
