On May 16, the issuance Review Committee of CSRC approved the application for non-public offering of Roshow Technoiogy Co.Ltd(002617) ( Roshow Technoiogy Co.Ltd(002617) , SZ; previous closing price of 9.13 yuan). According to the Roshow Technoiogy Co.Ltd(002617) fixed increase plan, the listed company plans to raise 2.567 billion yuan, mainly for the new silicon carbide Industrial Park and large-size silicon carbide substrate R & D center.
It is worth noting that the fixed increase fund-raising project of Roshow Technoiogy Co.Ltd(002617) 2020 also involves the third-generation semiconductor silicon carbide project. When most of the funds of the previous fixed increase third-generation semiconductor project have not been used, why did Roshow Technoiogy Co.Ltd(002617) decide to increase the code again?
On the afternoon of May 20, the reporter of “daily economic news” called Roshow Technoiogy Co.Ltd(002617) Secretary Office for many times, but the phone was not connected.
fixed addition code third generation semiconductor
As early as November 23, 2021, Roshow Technoiogy Co.Ltd(002617) disclosed the fixed increase plan. At that time, Roshow Technoiogy Co.Ltd(002617) plans to raise no more than 2.94 billion yuan. Among them, 1.94 billion yuan is used for the third generation power semiconductor (silicon carbide) Industrial Park project; 500 million yuan for large-size silicon carbide substrate R & D center project; 500 million yuan is used to supplement working capital.
Hefei Luxiao semiconductor materials Co., Ltd. (hereinafter referred to as Hefei Luxiao), a subsidiary of Roshow Technoiogy Co.Ltd(002617) holding company, is the main body of the industrial park project. The project plans to produce 6-inch silicon carbide conductive substrate and other products. After the completion of the project, it will form an annual production capacity of 2400006-inch conductive silicon carbide substrate. The large-size silicon carbide substrate R & D center project is also organized and implemented by Hefei Luxiao, focusing on promoting the technical R & D of 8-inch silicon carbide substrate.
For this fixed increase, the CSRC twice issued a notice of feedback on the examination of administrative licensing projects, requiring Roshow Technoiogy Co.Ltd(002617) to make a written explanation and explanation on relevant issues. Since then, Roshow Technoiogy Co.Ltd(002617) revised the fixed increase plan to reduce the supplementary working capital from 500 million yuan to 127 million yuan.
On October 27, 2021, the reporter of “daily economic news” came to Changfeng County, Hefei to explore the third generation semiconductor factory of Hefei Luxiao. At that time, the plant construction had been completed, and the equipment installation in Plant No. 2 was still in progress. By November 16, 2021 Roshow Technoiogy Co.Ltd(002617) said that at present, the (Hefei silicon carbide) project company has completed the installation and commissioning of phase I main equipment and entered the formal production stage.
most of the previous fixed increase funds have not been used
According to the reply of the second feedback, as of December 31, 2021, most of the funds of Roshow Technoiogy Co.Ltd(002617) previous fixed increase silicon carbide project have not been used. It is reported that there are three fixed increase projects of Listed Companies in 2020, of which 285 million yuan is used for the new industrialization project of silicon carbide substrate; 30 million yuan for silicon carbide R & D center project; 300 million yuan was used to repay bank loans.
As of December 31, 2021, the new silicon carbide substrate industrialization project has invested a total of 20.4 million yuan, the silicon carbide R & D center project has invested 3.895 million yuan, and the bank loan repayment project has invested 300 million yuan.
In other words, the repayment of bank loans has been completed, while the two major projects involving silicon carbide are still in the initial stage of investment Roshow Technoiogy Co.Ltd(002617) said that the repayment of bank loans has been completed in the raised investment projects of non-public offering of shares in 2020, the other two raised investment projects are in orderly progress, and the project construction and the investment progress of raised funds meet the expectations.
In this fixed increase, the main body of the new silicon carbide substrate industrialization project is Zhejiang Luxiao carbon silicon crystal Co., Ltd. (hereinafter referred to as Luxiao carbon silicon crystal). The project plans to invest 695 million yuan to purchase advanced equipment such as crystal growth furnace, multi wire cutting machine and polishing machine. The products are 4-inch 4H SiC semi insulating silicon carbide substrate and 6-inch 4H SiC conductive substrate. After the completion of the project, Luxiao silicon carbide crystal will form an annual production capacity of 88000 silicon carbide substrates.
Roshow Technoiogy Co.Ltd(002617) 2021 annual report shows that the total assets of Luxiao carbon silicon crystal are 158 million yuan and the net assets are 413059 million yuan. In 2021, the revenue was 64200 yuan and the net profit was – 16380800 yuan.
According to the announcement of Roshow Technoiogy Co.Ltd(002617) on completing the performance appraisal target of the first unlocking period of the employee stock ownership plan in 2021, from January to December 2021, Roshow Technoiogy Co.Ltd(002617) silicon carbide achieved a cumulative sales revenue of 303566 million yuan and completed the performance appraisal target of the first unlocking period.
You know, Roshow Technoiogy Co.Ltd(002617) silicon carbide business is mainly carried out through Hefei Luxiao, while Hefei Luxiao’s consolidated revenue last year was only 577900 yuan.
On May 20, the reporter also called the company to further understand the relevant situation, but the phone could not be connected.
