FERROTEC HOLDINGS CORPORATION March 16, 2022
Notice of Fourth Issuance of New Shares through Third-Party Allotment by Subsidiary that
Manufactures Insulated Heat Dissipating Substrates for Power Semiconductors
Ferrotec Holdings Corporation (Representative Director: He Xian Han; hereinafter "the Company") announces that, at the meeting of Board of Directors held yesterday, Ferrotec (Jiangsu) Semiconductor Technology Co., Ltd. (hereinafter "FTSJ"), a subsidiary that manufactures insulated heat dissipating substrates for power semiconductors, has decided to issue new shares through fourth third-party allotment in order to increase production capacity and strengthen substrate development and research and development. Details are as follows.
1. Reason and background for the third-party allotment
In response to the rapid expansion of the power semiconductor market and the demand for high performance (advanced heat dissipation performance, mechanical characteristics, weather resistance, etc.), the Company has allocated the funds procured by the previous third-party allotment of shares by FTSJ (third time) to investment in growth, such as increasing the production capacity of DCB substrates (from 600,000 substrates/month to 1,000,000 substrates/month), building systems for mass-production of AMB substrates and DPC substrates, establishing a power semiconductor research institute and promoting the research and development of substrates and related materials.
However, taking into consideration the speed at which the Company's power semiconductor business is growing, we think that further reinforcement of our capacity is necessary. Seeing that the factories in Shanghai and Dongtai, which are our current production sites, may not be enlarged due to the lack of land, we have been considering the construction of a third factory for power semiconductor substrates. Consequently, considering that we should be able to secure a site suited for a new factory in Neijiang, Sichuan, where our parts cleaning business is based, we have decided to forge ahead with the issuance of new shares through third-party allotment (for the fourth time).
While the Company's equity ratio will decrease due to this allotment, we shall nevertheless treat FTSJ as our important consolidated subsidiary following the listing thereof.
2. Purpose of use of the proceeds to be raised
We plan to allocate the procured funds of 500 million yuan (approximately 9.2 billion yen) mainly to the construction of a new factory in Neijiang, Sichuan.
3. Outline of FTSJ as of December 31, 2022
(1) | Name | Ferrotec (Jiangsu) Semiconductor Technology Co., Ltd. (FTSJ) | ||
(2) | Address | 18 Hongda Road, Chengdong New District, Dongtai City, Jiangsu Province, China | ||
(3) | Title and name of Representative | He Xian Han, Representative Director | ||
(4) | Contents of business | Manufacture and sale of power semiconductor substrates | ||
(5) | Capital | 344,689,000 yuan (approx. 6.3 billion yen) *1 Chinese yuan = 18.36 yen | ||
(6) | Date of establishment | March 16, 2018 | ||
(7) | Major shareholders and shareholding ratio | Shareholder Shanghai Shenhe Thermo-Magnetics Electronics Co., Ltd. (abbr.: FTS) | Current shareholding ratio | After third-party allotment 60.6% |
66.69% | ||||
(8) | Relationship between FTSJ and the company | Capital relationship | FTSJ is a subsidiary 66.69% of whose voting rights are held by FTS, a consolidated subsidiary of the Company | |
Personnel relationship | The representative director and president of the Company concurrently serves as director of the subsidiary. |
Business relationship | Nothing is applicable. |
4. Overview of the third-party allotment
(1) | Issue price per share | 14.48 yuan/yuan of capital (approx. 266 yen) *1 Chinese yuan = 18.36 yen | |
(2) | Total contribution amount | 500,000,000 yuan (approx. 9.2 billion yen) | |
(3) | Settlement date | In April 2022 (schedule under consideration) | |
(4) | Increased capital | 34,469,000 yuan (approx. 600 million yen) | |
(5) | Registered capital after third-party allotment | 379,158,000 yuan (approx. 7 billion yen) | |
(6) | Ownership ratio of each allocatee | No. 1 Guangdong Core Future Phase I Private Equity Investment Fund Partnership (Limited Partnership) No. 2 Jiaxing Linhan Equity Investment Partnership (Limited Partnership) No. 3 Zhuji Dongzheng Linhang Equity Investment Partnership (Limited Partnership) No. 4 Shanghai Pudong Haiwang IC Industry Private Equity Fund Partnership (Limited Partnership) No. 5 Shanghai Guoce Green Technology Manufacturing Private Investment Fund Partnership (Limited Partnership) No. 6 Lanxi Puhua Haoyang Equity Investment Partnership (Limited Partnership) No. 7 Yangtze River Delta (Jiashan) Equity Investment Partnership Enterprise No. 8 Jiaxing Bohan Chengde Equity Investment Partnership Enterprise (Limited Partnership) No. 9 Neijiang Xinhan'an Industrial Development Investment Co., Ltd. No. 10 Jiaxing Jinguan No.2 Equity Investment Partnership (Limited Partnership) No. 11 Shanghai pudong intelligent manufacturing private equity fund phase 1 (limited partnership) No. 12 Qingdao Chaoyi Equity Investment Partnership (Limited Partnership) No. 13 Changzhou Hongxin Venture Capital Partnership (Limited Partnership) No. 14 Hangzhou Yinxinye Equity Investment Partnership Enterprise (Limited Partnership) No. 15 Advanced Manufacturing Industry Investment Fund Phase II No. 16 Guangfa Qianhe Investment Co., Ltd. No. 17 Qingdao Yuxin Equity Investment Partnership (Limited Partnership) No. 18 Ningbo Meishan Free Trade Port Xinxi Venture Capital Partnership (Limited Partnership) | 0.73% 0.73% 0.36% 1.09% 0.55% 0.55% 0.91% 0.55% 0.18% 0.18% 0.18% 0.18% 0.55% 0.55% 1.45% 0.36% 0.18% 0.18% |
*The issue price was determined based on an evaluation of the stock's fair value by a third-party organization that is independent from the Company and allottees, and then the shares were allotted.
5. Overview of the allottees
(1)Company name
(2) (3)
Capital
Date of establishment
(4)Major shareholders and shareholding ratio
(5)Representative
(6)Contents of business
(8)Contribution amount
*1 Chinese yuan = 18.36 yen
(1)Company name
(4)Major shareholders and shareholding ratio
(6)Contents of businessNo. 1
Guangdong Core Future Phase I Private
Equity Investment Fund Partnership
(Limited Partnership)
10 million yuan
July 2,2021
Jinggangshan Xiazhi Equity Investment
Partnership (Limited Partnership):
27.29%
Huangpu Investment Holding (Guangzhou) Co., Ltd.: 15.37% Knowledge City (Guangzhou) Financial
Services Co., Ltd.: 14.78%
Guangzhou Shiyuan Electronic Technology Company Limited: 9.85%, etc.
Shanghai Xingcheng Investment
Management Co., Ltd.
(Representative: Chen Xiao Fei) Investment management and asset management
There are no capital, personnel, or business relationships.
The company does not belong to related parties.
40 million yuan (730 million yen)No. 3
Zhuji Dongzheng Linhang Equity
Investment Partnership (Limited Partnership)
310 million yuan September 1 ,2020
Shanghai Orient Securities Capital
Investment Co., Ltd.: 19.52% Zhejiang Linhang Investment Co., Ltd.:
19.35%
Zhuji State Owned Capital Investment
Holding Co., Ltd.: 19.35%
Shanghai Youyuan Investment Management Co., Ltd.: 16.13%, etc.
Shanghai Orient Securities Capital
Investment Co., Ltd.
(Representative: Jin Wen Zhong) Investment in shares, investment in start-ups, socioeconomic consulting service and corporation management
No. 2
Jiaxing Linhan Equity Investment Partnership (Limited Partnership)
10 million yuan December 29, 2021
Pan Jia Yi: 99.95% Shanghai Core Investment
Management: 0.05%
Shanghai Core Investment
Management
(Representative: Li Ya Jun) Investment in shares and investment in businesses
There are no capital, personnel, or business relationships.
The company does not belong to related parties.
40 million yuan (730 million yen)No. 4
Shanghai Pudong Haiwang IC Industry Private Equity Fund Partnership (Limited
Partnership)
1,880 million yuan
June 3, 2021
Shanghai Pudong Science and Technology Innovation Investment Fund
Partnership (Limited Partnership):
26.60%
Zhejiang Weiwei Equity Investment Co.,
Ltd.: 21.28%
Shanghai Pudong Innotek Capital Co.,
Ltd.: 19.68%
Xingzheng Capital Management Co.,
Ltd.: 10.64%, etc.
Shanghai Pudong Fuwang Integrated
Circuit Center
Investment in shares through private placement funds, invest management and asset management
consulting | |||
(7) | Relationship between FTSJ and the companies | There are no capital, personnel, or business relationships. The company does not belong to related parties. | There are no capital, personnel, or business relationships. The company does not belong to related parties. |
(8) | Contribution amount | 20 million yuan (370 million yen) | 60 million yuan (1.1 billion yen) |
*1 Chinese yuan = 18.36 yen
(1)Company name
(2) (3)
Capital
Date of establishment
(5)Representative
(6)Contents of businessRelationship between
(7)
FTSJ and the companies
(8)Contribution amount
*1 Chinese yuan = 18.36 yenNo. 5
Shanghai Guoce Green Technology Manufacturing Private Investment Fund
Partnership (Limited Partnership)
881 million yuan
July 30, 2021 Hainan Huaquan Enterprise Management Co., Ltd.: 20.43% Shanghai Yihong Enterprise Management Consulting Partnership
(Limited Partnership): 17.03% Shanghai Jingmin Enterprise Management Center (limited
Partnership): 11.35% Shanghai Jiekun development Co., Ltd.:
11.35%, etc.
Shanghai Guoce Investment
Management Co., Ltd.
(Representative: Lu Zi Ye) Investment in shares through private equity funds, investment management, asset management, etc.
There are no capital, personnel, or business relationships.
The company does not belong to related parties.
30 million yuan (550 million yen)
No. 6
Lanxi Puhua Haoyang Equity Investment
Partnership (Limited Partnership)
97.41 million yuan
June 22, 2020
Xu Guo Hai: 12.32%
Ding Fu Ying: 10.27% Hangzhou Perspective Investment Management Partnership: 10.27% Zhejiang Huaxia Project Management
Co., Ltd.: 10.27%, etc.
Hangzhou Puyang Investment
Management Co., Ltd. (Representative: Wu Yi Hui)
Investment in sharesThere are no capital, personnel, or business relationships.
The company does not belong to related parties.
10 million yuan (180 million yen)
No. 7 | No. 8 | ||
(1) | Company name | Yangtze River Delta (Jiashan) Equity Investment Partnership Enterprise | Jiaxing Bohan Chengde Equity Investment Partnership Enterprise (Limited Partnership) |
(2) | Capital | 1,217.18 million yuan | 200 million yuan |
(3) | Date of establishment | March 4, 2021 | October 25, 2021 |
(4) | Major shareholders and shareholding ratio | China Cinda Asset Management Co., Ltd.: 32.86% Jiashan County Financial Investment Co., Ltd.: 24.65% Zhejiang Longsheng Group Co.,Ltd.: 16.43% | Cheng Yi Fan: 99.99%, etc. |
(5)RepresentativeRelationship between
(7)
FTSJ and the companies
*1 Chinese yuan = 18.36 yen
(5)Representative
(6)Contents of business
(8)
Contribution amount
*1 Chinese yuan = 18.36 yen
Shanghai Yangqian Enterprise Management Consulting Partnership: 16.43%, etc.
Shanghai Lingang Sci-Tech Innovation
Equity Investment Fund, Co., Ltd.
(Representative: Wu Jian Ping) Investment in shares and investment in start-ups
There are no capital, personnel, or business relationships.
The company does not belong to related parties.
50 million yuan (920 million yen)No. 9
Neijiang Xinhan'an Industrial Development Investment Co., Ltd.
100 million yuan March 11, 2022
Neijiang New Area Investment Development Co., Ltd: 100%
Chen Jie
Investment and asset management service
There are no capital, personnel, or business relationships.
The company does not belong to related parties.
10 million yuan (180 million yen)
Hangzhou Borhan Assets Management
Co., Ltd.
(Representative: Yao Yi Zhe) Investment in shares and related consulting services
There are no capital, personnel, or business relationships.
The company does not belong to related parties.
30 million yuan (550 million yen)No. 10
Jiaxing Jinguan No.2 Equity Investment
Partnership (Limited Partnership)
50 million yuan
October 25, 2021 Wang Zhi Xiang: 99% Shanghai Jinguan Investment
Management Co., Ltd.: 1% Shanghai Jinguan Investment
Management Co., Ltd. (Representative: Wang Zhi Xiang)
Investment in sharesThere are no capital, personnel, or business relationships.
The company does not belong to related parties.
10 million yuan (180 million yen)
No. 11 | No. 12 | ||
(1) | Company name | Shanghai pudong intelligent manufacturing private equity fund phase 1(limited partnership) | Qingdao Chaoyi Equity Investment Partnership (Limited Partnership) |
(2) | Capital | 1,001 million yuan | 10.3 million yuan |
(3) | Date of establishment | August 27, 2021 | February 26, 2021 |
(4) | Major shareholders and shareholding ratio | Shanghai Pudong Science and Technology Innovation Investment Fund Partnership: 49.95% Shanghai Harbour City Development (Group) Co., Ltd.: 14.99% Taizhou Hongtong Enterprise Management Center (Limited Partnership): 14.99% | Wu Hong Bin: 97.09% Shanghai Ruixia Private Equity Fund Management Co., Ltd.: 2.91% |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Ferrotec Holdings Corporation published this content on 05 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2022 05:47:02 UTC.
