Qixing Electronics announced on the evening of January 10 that the company received a letter of reorganization from the Shenzhen Stock Exchange on December 30, 2015. The company and related parties and intermediaries actively prepared to reply to the work, "Beijing Qixing Huachuang" Relevant documents such as the issuance of shares by the Electronic Co., Ltd. and the collection of matching funds and related transaction plans have been supplemented and improved accordingly. The company's stock will resume trading on January 11.
According to the plan, Qixing Electronics intends to issue a total of 5,322,400 shares to the actual controller Beijing Electric Control and the controlling shareholder Qixing Group at a price of 17.49 yuan/share, for a total purchase price of 931 million yuan to acquire 100% equity of Northern Microelectronics; meanwhile, it is planned to use 17.49 yuan/share. The issuance of shares raised 931 million yuan for the construction of Northern Microelectronics "microelectronics equipment expansion project" and supplemented the company's working capital, of which the National Integrated Circuit Fund plans to subscribe for 600 million yuan.
Qixing Electronics Co., Ltd. is engaged in the research, development, production and sales of basic electronic products. The main products are large-scale integrated circuit manufacturing equipment, hybrid integrated circuits and electronic components. As the backbone enterprise undertaking the major scientific and technological research tasks of the national electronic special equipment, the company is the only company in China with an 8-inch vertical diffusion furnace and cleaning equipment production capacity.
North Microelectronics focuses on high-end integrated circuit equipment, focusing on three major types of integrated circuit equipment: etching, PVD and CVD. Applications include integrated circuit manufacturing, advanced packaging, LED, MEMS, power semiconductors, etc. The domestic market share ranks first, and its main customers include SMIC, Sanan Optoelectronics, and Crystal Technology. Its PVD products have been designated by the domestic advanced integrated circuit manufacturer SMIC as a Baseline machine for mass production of 28nm customers. The GaN etching machine for LED industry has a leading position in the domestic market in 2014.
The acquisition of the North Micro, strong alliance, leading position is more stable, to build a domestic semiconductor equipment integration platform. North Microelectronics and Qixing Electronics are among the top ten semiconductor equipment manufacturers in China, and the sum of their revenues ranks second in China.
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