On the evening of May 22, Will Semiconductor Co.Ltd.Shanghai(603501) announced that it planned to increase its holdings of Ingenic Semiconductor Co.Ltd(300223) shares by no more than 4 billion yuan.
Previously, Will Semiconductor Co.Ltd.Shanghai(603501) has held 4.96% of the equity of Ingenic Semiconductor Co.Ltd(300223) and after this increase, Will Semiconductor Co.Ltd.Shanghai(603501) will hold 10.38% of the equity of Ingenic Semiconductor Co.Ltd(300223) and rank as the fourth largest shareholder of Ingenic Semiconductor Co.Ltd(300223) Ingenic Semiconductor Co.Ltd(300223) equity structure is scattered, and the shareholding ratio of the top three shareholders is over 10%, and they are all in the implementation period of the reduction plan.
4 billion yuan holdings increase Ingenic Semiconductor Co.Ltd(300223)
Will Semiconductor Co.Ltd.Shanghai(603501) announced that Shaoxing Weihao, a wholly-owned enterprise of the company, plans to increase its holdings of Ingenic Semiconductor Co.Ltd(300223) shares by no more than 4 billion yuan through centralized bidding or block trading, and the cumulative number of Ingenic Semiconductor Co.Ltd(300223) shares held after the increase is no more than 50 million shares, no more than 10.38% of Ingenic Semiconductor Co.Ltd(300223) total share capital. This transaction constitutes a connected transaction and does not constitute a major asset reorganization.
Image source: Announcement
Will Semiconductor Co.Ltd.Shanghai(603501) said that the capital of this overweight transaction will consist of about 40% of its own funds and about 60% of the funds raised by bank loans and other financing methods permitted by laws and regulations. The reason why this transaction constitutes a connected transaction is that Chen Zhibin, the director of the company, is the original director and general manager of the Ingenic Semiconductor Co.Ltd(300223) shareholder Huachuang Xinyuan, who holds 3 Guangdong Tapai Group Co.Ltd(002233) .26% shares and LV Dalong, the director of the company, holds 3 Iflytek Co.Ltd(002230) .67% shares.
Prior to this share increase plan, Will Semiconductor Co.Ltd.Shanghai(603501) had already held 3 Shandong Minhe Animal Husbandry Co.Ltd(002234) .96% shares by participating in fixed increase and centralized bidding.
According to the announcement, in the past 12 months, Will Semiconductor Co.Ltd.Shanghai(603501) participated in the subscription of Ingenic Semiconductor Co.Ltd(300223) shares issued to specific objects, allocated 5 Beijing Comens New Materials Co.Ltd(300200) shares at the issue price of 103.77 yuan / share, paid the subscription amount of 550 million yuan, and purchased 3 Allwin Telecommunication Co.Ltd(002231) 8604900 shares through centralized bidding in the secondary market, with the payment of 1.518 billion yuan.
strengthen business strategic cooperation
For reinvestment in Ingenic Semiconductor Co.Ltd(300223) , Will Semiconductor Co.Ltd.Shanghai(603501) stressed that the company’s transaction is based on the perspective of semiconductor industry investment, and is optimistic about the market development prospects of Ingenic Semiconductor Co.Ltd(300223) storage chips, analog and Internet chips and other main businesses in the medium and long term, so as to strengthen the strategic cooperation with Ingenic Semiconductor Co.Ltd(300223) in the main business.
Will Semiconductor Co.Ltd.Shanghai(603501) believes that since December 2021, the stock prices of China’s listed semiconductor companies have fallen sharply, bringing better industrial investment opportunities. From the disk, the stock price of 3 Qiming Information Technology Co.Ltd(002232) 022 has fallen by 36.6%, the latest closing price is 84.96 yuan, and the current total market value is 40.9 billion yuan.
In addition, Ingenic Semiconductor Co.Ltd(300223) has good technical advantages in memory technology, simulation and interconnection technology, embedded CPU technology, etc., which can complement the company’s effective resources. In May 2020, Ingenic Semiconductor Co.Ltd(300223) completed the acquisition of Beijing silicon semiconductor, thus obtaining high-quality memory chip business, and the operating performance increased significantly Will Semiconductor Co.Ltd.Shanghai(603501) said that Ingenic Semiconductor Co.Ltd(300223) and the company are both leading IC design enterprises. Downstream customers are oriented to automotive, industrial, medical, communication and other fields, which can realize effective resource complementarity.
In December 2020, Will Semiconductor Co.Ltd.Shanghai(603501) and Ingenic Semiconductor Co.Ltd(300223) also established Shanghai Xinkai integrated circuit Co., Ltd., which will develop nor flash products for the consumer market based on years of flash design experience and technology accumulation of Beijing Sicheng semiconductor.
Interestingly, the chairmen of the two chip leaders are alumni of Tsinghua University Yu renrong, the chairman of Will Semiconductor Co.Ltd.Shanghai(603501) is a 1985 grade student in the Department of electronics of Tsinghua University, and Liu Qiang, the chairman of Ingenic Semiconductor Co.Ltd(300223) is a 1988 grade student in the Department of machinery of Tsinghua University. Previously, the two companies had a common interest in Howell technology, a well-known COMS sensor manufacturer. After the failure of Ingenic Semiconductor Co.Ltd(300223) annexation of Howell technology in 2016, Howell technology was finally pocketed by Will Semiconductor Co.Ltd.Shanghai(603501) and Will Semiconductor Co.Ltd.Shanghai(603501) became a chip leader with a market value of more than 100 billion.
subsequent capital actions worth looking forward to
From the perspective of equity structure, as of the end of the first quarter of this year, Ingenic Semiconductor Co.Ltd(300223) ‘s shareholders’ shareholding was relatively scattered, and the shareholding proportion of the top three shareholders was in the early 10% Will Semiconductor Co.Ltd.Shanghai(603501) after the completion of the plan to increase the shareholding of Ingenic Semiconductor Co.Ltd(300223) this time, it will rank the fourth largest shareholder of Ingenic Semiconductor Co.Ltd(300223) with a shareholding ratio of 10.38%.
It is worth noting that the top three shareholders of Ingenic Semiconductor Co.Ltd(300223) are still in the implementation period of the reduction plan. Wu Yuefeng capital, which holds 12.57% of the shares of Ingenic Semiconductor Co.Ltd(300223) said on January 7 this year that it plans to reduce its shares of Ingenic Semiconductor Co.Ltd(300223) by means of centralized bidding from February 8, 2022 to August 7, 2022, which has not been reduced as of May 7; Shanghai jicen, which holds 11.18% of the shares of Ingenic Semiconductor Co.Ltd(300223) said on March 25 this year that it plans to reduce its shares of Ingenic Semiconductor Co.Ltd(300223) by means of centralized bidding within six months from April 29, 2022 to October 28, 2022; Yitang Shengxin, which holds 12.57% of the equity of Ingenic Semiconductor Co.Ltd(300223) said on April 1 this year that it plans to reduce its shareholding of Ingenic Semiconductor Co.Ltd(300223) by centralized bidding within three months from April 29, 2022 to July 28, 2022.
Will Semiconductor Co.Ltd.Shanghai(603501) emphasized in the announcement that the purpose of this transaction is not to control Ingenic Semiconductor Co.Ltd(300223) and there is a risk that the project cooperation will not be promoted as expected in the future.
However, the controlling stake of Ingenic Semiconductor Co.Ltd(300223) does not seem to be “stable” 3 Qiming Information Technology Co.Ltd(002232) 021 annual report disclosed that the company’s shareholders Liu Qiang and Li Jie acted in concert, Beijing Sihai Junxin Co., Ltd. was an enterprise controlled by Liu Qiang, and Liu Qiang and Li Jie were both the actual controllers of Ingenic Semiconductor Co.Ltd(300223) .
Ingenic Semiconductor Co.Ltd(300223) announcement shows that Li Jie reduced his shares in the company in December last year and the first quarter of this year. As of the first quarter of this year, Liu Qiang held 8.4%, Li Jie held 4.68% and Sihai Junxin held 1.89%. Sihai Junxin is also in the reduction plan period. According to the announcement of Ingenic Semiconductor Co.Ltd(300223) on March 25 this year, Sihai Junxin plans to reduce its stake in Ingenic Semiconductor Co.Ltd(300223) by no more than 1.89% within six months from April 29, 2022 to October 28, 2022. The announcement said that since Sihai Junxin is a company controlled by Liu Qiang, the controlling shareholder and actual controller of the company, the implementation of the reduction plan will be determined according to the shares of the controlling shareholder and actual controller of the company, so as to ensure that there will be no change in the control right of the company and no impact on the sustainable operation of the company.
