Feikai Materials' new material industry layout is constantly accelerating. Following the acquisition of Darui Technology and holding Changxing Kundian, Feikai Materials recently invested 1.064 billion yuan to acquire 100% equity of Jiangsu Hecheng Display Technology Co., Ltd. (hereinafter referred to as "Hecheng Display").
On the evening of November 25, Feikai Materials announced that the company planned to purchase 100% equity of Jiangsu Hecheng Display Technology Co., Ltd. (hereinafter referred to as "Hecheng Display") by issuing shares and paying cash for a price of 1.064 billion yuan. The asset appreciation rate was 374.26%.
The acquisition draft shows that Feikai Materials intends to issue 10.7136 million shares to 7 objects including Zhangjiakou Jingtaike Display Technology Co., Ltd., Jiangsu United Chemical Co., Ltd. and Shenzhen Hanzhi Investment Co., Ltd. at a price of 56.75 yuan / share and pay cash 456 million yuan, a total price of 1.064 billion yuan to purchase 100% equity of Hecheng Display. At the same time, the company intends to issue 470 million yuan of matching funds to four stocks to pay the cash consideration and related issuance expenses of the transaction at an issue price of 65.75 yuan per share.
According to the data, Hecheng Display is a company specializing in R & D, production and sales of liquid crystal display materials. Its products mainly include TN, STN, and TFT-type mixed liquid crystals. It is one of the few domestic companies that can provide TFT mixed crystal materials. First, it has obvious advantages in R & D and production of mixed crystals.
Hecheng showed 2015 operating income of 221 million yuan and net profit attributable to the parent company of 41.723 million yuan, corresponding to 51.27% and 39.42% of the relevant financial indicators of listed companies during the same period. In the first half of 2016, it realized revenue of 174 million yuan, a year-on-year increase of 117.89%, and net profit attributable to the mother was 34.389 million yuan.
In addition, the counterparty promised that Hecheng showed that the net profit of non-deduction in 2016, 2017 and 2018 was not less than 65 million yuan, 80 million yuan and 95 million yuan, respectively. If the performance commitment period is postponed, the transferor promises that the net non-deductible profit realized in 2019 will not be less than 110 million yuan.
According to Feikai Materials, the counterparty and the listed company are similar and complementary in terms of business characteristics, development philosophy, target market, talent professional structure, production and sales model, and so on. The two parties are in sales market, marketing management, technology research and development, There is broad scope for integration and coordination in financing channels and other aspects. In addition, while achieving high-quality customer resource sharing, both parties can provide more comprehensive technical solutions and integrated services to customers in more industries, so as to better seize market opportunities, increase the company's overall market share, and expand new businesses. field.
This is already the third M & A in the field of new materials in 2016.
Previously on July 21, Feikai Materials announced that it planned to acquire 100% equity of Darui Technology with its own funds.
Dare Technology is mainly engaged in the manufacture and sale of solder balls for semiconductor packaging. It is the world's leading manufacturer of solder balls for high-end IC packages such as BGA and CSP. Feikai Materials said that it will use Dare's high-quality talent resources, qualification resources and industry status to accelerate the domesticization of domestic solder balls for semiconductor packaging, and at the same time, give better play to synergistic effects and form synergistic effects with the company's IC wet electronics chemicals. In the field of IC materials, the layout is becoming more and more perfect.
Feikai Materials announced on November 14 that it intends to acquire 60% of shares in Changxing Kundian. Changxing Kundian has long been committed to the development of materials required for high-end devices and IC packaging. It mainly specializes in the production of semiconductor devices, integrated circuits and other packaging companies. The required epoxy plastic sealing material can provide standard, low stress and high thermal conductivity series products, which is one of the major suppliers in the industry.
Feikai Materials intends to enrich the company's product line through the acquisition of Changxing Kundian Holding, based on the research and development, production and sales of semiconductor materials, and actively expand the domestic and foreign markets for semiconductor materials; with the help of high-quality talents from Changxing Kundian, Changxing China and Changxing Materials Resources, qualification resources and industry status, give better play to synergies, further enrich and optimize the industrial structure, improve the company's industrial layout, and improve the company's comprehensive competitiveness in the field of semiconductor materials.
"The direction of the company's mergers and acquisitions is mainly based on new materials, and hopes to create synergy with the company's current business." Su Bin, director and chief financial officer of Feikai Materials, said when receiving institutional investors.
Data show that Feikai Materials achieved operating income of 291 million yuan in the first three quarters of 2016, and realized net profit attributable to shareholders of listed companies of 53.389 million yuan.