Shenzhen Mtc Co.Ltd(002429) ( Shenzhen Mtc Co.Ltd(002429) ) is about to change ownership, and the spin off and listing of subsidiaries are also affected
If the planned public announcement of the controlling shareholder of zhaochi and its subsidiaries on the gem has been completed successfully, the actual transfer of the controlling shareholder of zhaochi will also be completed on March 17, which will lead to the actual termination of the controlling shareholder of the latter.
at the same time, the company announced that it would invest 5 billion yuan to build a mini LED chip and RGB small spacing LED display module project in Nanchang high tech Zone. The project is expected to be officially put into operation in 2023
terminate the spin off of zhaochi Guangyuan to gem
If it had not been affected by Evergrande’s liquidity crisis, Shenzhen Mtc Co.Ltd(002429) could have handed in a brilliant “answer sheet” of the annual report.
In the first three quarters of 2021, Shenzhen Mtc Co.Ltd(002429) achieved a net profit of 1.577 billion yuan, a year-on-year increase of 41.83%. The performance forecast disclosed recently shows that the company expects a net profit of 230 million yuan to 330 million yuan in 2021, a year-on-year decrease of 87% to 81%, mainly due to the provision for impairment of receivables of Evergrande group and its member enterprises.
According to the announcement on February 28, Nanchang Zhaotou, the controlling shareholder of the company, and Gu Wei, the person acting in concert, signed the share transfer framework agreement with Shenzhen capital operation group Co., Ltd. and its wholly-owned subsidiary Shenzhen Yixin Investment Co., Ltd. Nanchang Zhaotou and Gu Wei plan to transfer 19.73% of the shares, with a total transfer price of 4.368 billion yuan.
Shenzhen capital operation group Co., Ltd., the recipient of this offer, is a state-owned assets auxiliary performance platform and a professional state-owned capital operation platform specially established by Shenzhen SASAC to promote the transformation of state-owned assets management from asset management to capital management and promote the overall capital operation strategy of Shenzhen state-owned assets.
in the critical period when the company is about to change its ownership, Shenzhen Mtc Co.Ltd(002429) the board of directors deliberated and passed a proposal on March 17, agreeing to terminate the spin off of its controlling subsidiary zhaochi Guangyuan to the gem Shenzhen Mtc Co.Ltd(002429) said that if the actual control transfer of the company is successfully completed, the actual controller of zhaochi Guangyuan will also change, and zhaochi Guangyuan will not meet the conditions for the initial public offering of shares on the gem. After careful study, the company decided to terminate the spin off of zhaochi Guangyuan to the gem and withdraw the relevant application documents
The company said that the termination of the spin off and listing process of zhaochi Guangyuan will not adversely affect the production and operation activities of the company and zhaochi Guangyuan, nor hinder the implementation of the company’s overall strategic plan. As a leader in the LED packaging industry, zhaochi Guangyuan has outstanding technical strength and advanced manufacturing level in the three mainstream application fields of LED backlight, LED lighting and LED display. It is able to realize the implementation of the proposed construction project through its own funds or other forms of financing, and promote the further expansion of the company’s main business scale and profitability Shenzhen Mtc Co.Ltd(002429) also stressed that “when the conditions are ripe, the company will choose the opportunity to restart the spin off and listing work.”
5 billion yuan construction of mini LED chip and other projects
on the same day, Shenzhen Mtc Co.Ltd(002429) announced a plan to invest 5 billion yuan in the construction of mini LED chip and RGB small spacing LED display module project in Nanchang high tech Zone
Previously, in June 2017, the company signed an investment agreement with the Management Committee of Nanchang high tech Zone to invest in the construction of a local LED epitaxial and chip production base integrating R & D, production and sales. Since the establishment of the project, 650000 pieces / month of gallium nitride and gallium arsenide 4-inch chips in the field of compound semiconductor LED have been realized, and the products cover the whole product field of compound semiconductor LED (lighting, backlight and display). Meanwhile, the company’s new RGB small spacing LED display module plant in Nanchang high tech Zone has been basically completed and is expected to be put into operation in the second half of 2022.
Now the company is ready to continue to increase production capacity.
According to the announcement, the total investment of this project is 5 billion yuan, of which the equipment investment is about 2.5 billion yuan. The project plans to purchase 52 cavity MOCVD equipment and corresponding capacity chips and supporting equipment for the production of gallium nitride Mini LED chips, and add Tus-Design Group Co.Ltd(300500) small spacing LED display module production lines using cob technology. The project is expected to complete the equipment installation and commissioning and officially put into operation in 2023.
With the further development of 6G technology and the concept of “meta universe”, the new generation display market has gradually entered the era of ultra-high definition, which puts forward higher requirements for screen size, image quality, resolution and color. The traditional LCD and OLED technology can no longer meet the extensive needs of the future market. Mini LED has become the main technical direction in the field of new LED display, and the capacity demand will show explosive growth in the future. In the past few years, all factories in the industrial chain have made key layout in the field of mini / micro led, and a variety of mini led terminal products have gradually appeared.
Shenzhen Mtc Co.Ltd(002429) said that with the development of new mini / micro LED display technology, mini / micro led direct display is the main and key leading product, and the expansion demand of ultra-high definition display Mini LED of the company is urgent. Facing the rapid rise of mini LED market in the future, the company plans to further invest in the construction of mini LED chip and RGB display module project, optimize the product structure, enrich and improve the categories and application fields of LED chips. It is expected that the monthly production capacity (equivalent to 4-inch chips) will reach 1-1.1 million after production
