Another semiconductor company will be reduced by large funds.
On January 10, Hunan Goke Microelectronics Co.Ltd(300672) (300672) and Changsha Jingjia Microelectronics Co.Ltd(300474) (300474) issued announcements, revealing that the future reduction plan of national integrated circuit industry investment fund Co., Ltd. (hereinafter referred to as “big fund”) will be reduced by no more than 3.64 million shares and 6.02 million shares respectively, accounting for 2% of the total share capital. According to the current stock prices of the two companies, if the large fund implements the top reduction this time, the cumulative reduction amount will exceed 1.4 billion yuan.
Since the end of 2019, the first phase of the large fund has entered the payback period and began to withdraw from the previously invested semiconductor enterprises in stages; The subsequent establishment of the second phase of the large fund has fully entered the investment stage and is bringing more resources to the industry.
large fund reissue and reduction plan
Public information shows that the large fund currently holds Hunan Goke Microelectronics Co.Ltd(300672) 22723500 shares, accounting for 12.48% of the total share capital, ranking the second largest shareholder. The proposed reduction will not exceed 3.64 million shares, accounting for 2% of the total share capital.
As of the latest closing, the share price of Hunan Goke Microelectronics Co.Ltd(300672) was 160.97 yuan / share. Based on this calculation, large funds can obtain a reduction consideration of about 586 million yuan in the case of top grid reduction.
In fact, this is not the first time that Hunan Goke Microelectronics Co.Ltd(300672) has been reduced by large funds. From July 6 to November 2, 2021, large funds sold Hunan Goke Microelectronics Co.Ltd(300672) 3.6 million shares through centralized bidding transactions, accounting for 2% of the total share capital, with a transaction amount of 478 million yuan.
Unlike Hunan Goke Microelectronics Co.Ltd(300672) , Changsha Jingjia Microelectronics Co.Ltd(300474) may be reduced by large funds for the first time. As the initial shareholder of Changsha Jingjia Microelectronics Co.Ltd(300474) , the large fund holds 27536600 shares of the company, accounting for 9.14% of the total share capital, also ranking the second largest shareholder. It is worth mentioning that the restricted sale of its shares was just lifted on December 28, 2021. At present, it has been listed and circulated for only 13 days.
According to the reduction plan, the large fund will reduce its holdings of no more than 602 shares this round, accounting for 2% of the total share capital. According to the current share price of 137 yuan / share, Dingge’s reduction can obtain a consideration of 825 million yuan.
The annual performance forecast of Changsha Jingjia Microelectronics Co.Ltd(300474) is issued together with the pre disclosure announcement of share reduction. It is predicted that the company will realize an operating revenue of 1.08 billion yuan to 1.2 billion yuan in 2021, an increase of 65.20% – 83.55% over the same period of last year; The pre profit was 270 million yuan – 320 million yuan, with a year-on-year increase of 30.27% – 54.39%. The reason for the pre happy performance was the substantial growth of product sales in the field of chips and the stable year-on-year growth of product sales in the field of graphic display and control.
phase I accelerated exit and phase II comprehensive investment
The first phase of large fund was established in 2014 with a fund scale of 120 billion yuan. After the five-year investment period, it will enter the payback period at the end of 2019. Since 2021, the first phase of large funds has accelerated the pace of withdrawal. According to incomplete statistics, Gigadevice Semiconductor (Beijing) Inc(603986) , China Wafer Level Csp Co.Ltd(603005) , Hangzhou Chang Chuan Technology Co.Ltd(300604) , Jcet Group Co.Ltd(600584) , Sanan Optoelectronics Co.Ltd(600703) , Jiangsu Yoke Technology Co.Ltd(002409) , Shanghai Wanye Enterprises Co.Ltd(600641) , Tongfu Microelectronics Co.Ltd(002156) , Rockchip Electronics Co.Ltd(603893) , Hunan Goke Microelectronics Co.Ltd(300672) and other semiconductor companies have been successively reduced by large funds. In terms of the pace of reduction, the first phase of large funds is generally sold through centralized bidding, and the reduction plan will be completed within a predetermined range.
Take Gigadevice Semiconductor (Beijing) Inc(603986) as an example, the company disclosed the reduction plan of large funds on October 16, 2021, which was completed in less than two months. It has reduced its holdings of 1% of shares through centralized bidding, with a reduction amount of RMB 1.084 billion, and the shareholding ratio has dropped to less than 5% in one fell swoop; As another example, Hangzhou Chang Chuan Technology Co.Ltd(300604) , the reduction plan of large funds was disclosed on November 11, 2021, which took only more than one month to complete the reduction of 1% shares.
While the first phase of the large fund accelerated its exit, the second phase of the large fund, with a scale of 200 billion yuan, has begun its investment layout. Compared with the manufacturing field of the first phase, the second phase focuses more on upstream fields such as semiconductor equipment and materials.
In December 2021, big fund phase II participated in the strategic placement of Dongxin shares as a strategic investor, and received 3.297 million shares, with an amount of 99.5025 million yuan; In August, participated in the strategic placement of Galaxycore Inc(688728) and received 6.9541 million shares, with an amount of about 100 million yuan; In July, he also appeared on the Advanced Micro-Fabrication Equipment Inc.China(688012) fixed addition list and was allocated 24.44 million shares, amounting to 2.5 billion yuan; In June, China Resources Microelectronics Limited(688396) announced that it planned to establish a project company with a registered capital of 5 billion yuan with large fund phase II and Chongqing Xiyong Micro Electronics Industrial Park Development Co., Ltd. to invest in the construction of a 12 inch power semiconductor wafer production line project. In addition, the second phase of the large fund also participated in the capital increase and share expansion of Xingfu electronics, a Hubei Xingfa Chemicals Group Co.Ltd(600141) subsidiary, and Pnc Process Systems Co.Ltd(603690) subsidiary to micro technology.
In the first three quarters of 2021, the second phase of large fund realized an operating revenue of 282 million yuan and a net profit of 187 million yuan; By the end of the third quarter, the total assets were 63.341 billion yuan and the net assets were 62.861 billion yuan.
(source: Securities Times · e company)
