[High- tech LED reporter Zhao Hui] Following the production of Luxiao Technology and Jingsheng Electromechanical Cross-border Sapphire Crystal Rod, A-share will soon add a purely listed company with sapphire crystal growth as its main business.
Orient's backdoor listing evaluation value nearly 6 times on the evening of August 11, Southwest Pharmaceutical (600666.HS) issued the "major asset replacement and issue of shares to buy assets and raise matching funds and related transaction plans", the announcement said that the Southwest Pharmaceutical The remaining portion of the assets to be disposed of, ie, the total assets and liabilities assessed on April 30, 2014, after deducting the equivalent undistributed profit corresponding to that date, is approximately RMB 11,284,900 (predicted The value is 427.823 million yuan, which is replaced by the equivalent of the Ordé shares as of April 30, 2014, held by Zuo Hongbo, one of the actual controllers of Orient.
According to the announcement, the estimated value of 100% equity of Orient, which is intended to be injected into the asset reorganization, is approximately RMB 4.12 billion, which is 590.84% ​​higher than the net assets of Orient's parent company as of April 30, 2014, which is 596,379,400 yuan. The evaluation adds nearly 6 times. The difference after the replacement was purchased by Southwest Pharmaceuticals to issue shares to all shareholders of Orient. The pricing benchmark date for the issuance of shares is the announcement date of the resolutions of the board of directors to review the relevant proposals, and the issue price is 7.42 yuan/share.
At the same time, in order to improve the performance of restructuring and enhance the ability of listed companies to continue to operate after the completion of the restructuring, Southwest Pharmaceutical plans to raise funds of no more than 10 specific investors for the non-public offering of shares of about 103 million yuan, the total amount of funds raised does not exceed the total amount of the transaction. 25%, the funds raised were used for Orient's “large-size sapphire material industry base expansion project†and Qiuguan photoelectric “sapphire window base projectâ€.
“Last year we should be able to account for more than 40% of the domestic market share. This is because we released the original capacity to expand production, so the overall production capacity last year was so large.†Earlier, Hongrui Optoelectronics Chairman Zuo Hongbo accepted the “High†Worker LED" reporter said in an interview.
At present, Orient Optoelectronics has more than 500 sapphire crystal growth furnaces, and some of the equipment has not been put into production. It is understood that Orient's current customers - Lansi Technology and Berne Optics are Apple's Chinese suppliers. When talking about the application of sapphire in consumer electronics, Zuo Hongbo believes that in terms of market applications, the current proportion of non-LEDs is still not high, and is expected to be 15%-20%. "The second quarter may be better, at around 30%. If the demand for consumer electronics is really good, there may be hopes for 50% in April-June, but these customers, including domestic mobile phone manufacturers, are still in the layout stage. ."
"There may be a big industry change next year. It is also necessary to look at the growth momentum of consumer electronics this year. If it is on iWatch, it will be predicted in the second quarter." Zuo Hongbo said that after this wave of upsurge, follow-up The market will compete in terms of price, cost and capacity scale. In terms of sales, whoever has done a good job of expanding the channel will have a greater chance.
Since the expansion of many sapphire companies since last year, it has seriously threatened Orient's leading position in this field, and has gained a listing platform. The power of capital has also become the best choice for Orient.
"If the backdoor listing is successfully approved, Orient will undoubtedly further strengthen its position in the sapphire crystal growth field with the support of capital." Brokerage analysts who are concerned about the sapphire field believe that the current large-scale sapphire expansion There is still a certain risk of overcapacity in the later period.
Sapphire new round of investment fever <br> <br> With the rapid increase LED lighting needs, has led the expansion areas upstream epitaxial silicon, sapphire wafer as the main material also will be strong demand, coupled with the expected consumption The prospects for sapphire in the electronics sector are considerable, and the new round of sapphire investment has been crazy again since the second half of last year.
“The three main lines of LED industry investment in 2014 are upstream sapphire, downstream lighting application and mergers and acquisitions of the entire industry.†Zhang Hongbiao, research director of Gaogong LED Industry Research Institute, said that the current domestic sapphire flat substrate has been accepted by most customers. With the promotion of sapphire applications in high-end smartphones, smart wearable devices, etc., sapphire demand will grow rapidly.
Since last year, there have been several sapphire projects, and hundreds of crystal growth furnaces have invested in dozens. In addition to the accelerated expansion of the original sapphire enterprises, other investment entities include both epitaxial chip companies and long crystal furnace plants, as well as cross-border investments of listed companies that have nothing to do with the main business.
“We have already started to invest in sapphire equipment in Inner Mongolia. The first batch has arrived and is ready to start production. The annual plan is 100 sets of equipment, mainly based on 65kg.†Jingsheng Electromechanical (300316.SZ) Securities Affairs Representative Gao Jianqiang It is said that the first batch of 32 sapphire crystal growth furnaces of Inner Mongolia Jinghuan Electronics Co., Ltd. has been officially put into mass production. On August 5, the first 60 kg sapphire crystals were grown.
Just before, Crystal Optoelectronics (002273.SZ) disclosed the non-public offering plan, the company plans to increase the amount of not more than 75.67 million shares at a reserve price of 16.14 yuan per share, raising 1.221 billion yuan for investing in filter assembly. Expansion projects, sapphire crystal growth and deep processing projects and supplementary liquidity.
The plan shows that Crystal Optoelectronics will invest 586 million yuan to build a production line with an annual output of 1.2 million 4-inch graphic sapphire LED substrates (PSS), a production line with an annual output of 24 million sapphire windows, and an annual output of "80 kg". 2.5M millimeter sapphire crystal rod (2 inch conversion) of the crystal growth production base.
"The company's LED sapphire substrate plans to expand production by about 30%. At present, the company's sapphire PSS production capacity is about 150,000 pieces / year, and plans to expand production capacity to 200,000 pieces / year before the end of the year." Crystal Optoelectronics Secretary Kong Wenjun said LED sapphire Substrate products are currently in strong market demand, products are in short supply, the company is expanding according to market demand; and seeking market opportunities for sapphire products for mobile phones.
Tiantong Co., Ltd. also announced the additional issuance plan. The company intends to issue no more than 210 million shares to no more than 10 specific targets including the company's shareholder Tiantong High-tech Group Co., Ltd., and the issue price is not less than 9.66 yuan/share. The funds do not exceed 2 billion yuan. It is planned to invest more than 2 billion yuan in the investment of large-scale sapphire wafers for smart mobile terminals, and to implement front-end crystal growth and back-end wafer processing in Yinchuan, Ningxia and Haining, Zhejiang respectively. The proposed funds are 600 million yuan respectively. And 1.4 billion yuan.
“Continue to be optimistic about the sapphire industry†Mao Ping, a researcher at Guotai Junan Securities, believes that the sapphire industry is driven by the development of the LED industry and the demand for consumer electronics. It is expected that the second half of the year will be the real explosion of sapphire applications.
GF Securities also pointed out in a research report that the time and proportion of the iPhone and iWatch using sapphire screens are uncertain; and the sapphire crystal growth capacity is expanding, and the industry is at risk of overcapacity.
Orient's backdoor listing evaluation value nearly 6 times on the evening of August 11, Southwest Pharmaceutical (600666.HS) issued the "major asset replacement and issue of shares to buy assets and raise matching funds and related transaction plans", the announcement said that the Southwest Pharmaceutical The remaining portion of the assets to be disposed of, ie, the total assets and liabilities assessed on April 30, 2014, after deducting the equivalent undistributed profit corresponding to that date, is approximately RMB 11,284,900 (predicted The value is 427.823 million yuan, which is replaced by the equivalent of the Ordé shares as of April 30, 2014, held by Zuo Hongbo, one of the actual controllers of Orient.
According to the announcement, the estimated value of 100% equity of Orient, which is intended to be injected into the asset reorganization, is approximately RMB 4.12 billion, which is 590.84% ​​higher than the net assets of Orient's parent company as of April 30, 2014, which is 596,379,400 yuan. The evaluation adds nearly 6 times. The difference after the replacement was purchased by Southwest Pharmaceuticals to issue shares to all shareholders of Orient. The pricing benchmark date for the issuance of shares is the announcement date of the resolutions of the board of directors to review the relevant proposals, and the issue price is 7.42 yuan/share.
At the same time, in order to improve the performance of restructuring and enhance the ability of listed companies to continue to operate after the completion of the restructuring, Southwest Pharmaceutical plans to raise funds of no more than 10 specific investors for the non-public offering of shares of about 103 million yuan, the total amount of funds raised does not exceed the total amount of the transaction. 25%, the funds raised were used for Orient's “large-size sapphire material industry base expansion project†and Qiuguan photoelectric “sapphire window base projectâ€.
“Last year we should be able to account for more than 40% of the domestic market share. This is because we released the original capacity to expand production, so the overall production capacity last year was so large.†Earlier, Hongrui Optoelectronics Chairman Zuo Hongbo accepted the “High†Worker LED" reporter said in an interview.
At present, Orient Optoelectronics has more than 500 sapphire crystal growth furnaces, and some of the equipment has not been put into production. It is understood that Orient's current customers - Lansi Technology and Berne Optics are Apple's Chinese suppliers. When talking about the application of sapphire in consumer electronics, Zuo Hongbo believes that in terms of market applications, the current proportion of non-LEDs is still not high, and is expected to be 15%-20%. "The second quarter may be better, at around 30%. If the demand for consumer electronics is really good, there may be hopes for 50% in April-June, but these customers, including domestic mobile phone manufacturers, are still in the layout stage. ."
"There may be a big industry change next year. It is also necessary to look at the growth momentum of consumer electronics this year. If it is on iWatch, it will be predicted in the second quarter." Zuo Hongbo said that after this wave of upsurge, follow-up The market will compete in terms of price, cost and capacity scale. In terms of sales, whoever has done a good job of expanding the channel will have a greater chance.
Since the expansion of many sapphire companies since last year, it has seriously threatened Orient's leading position in this field, and has gained a listing platform. The power of capital has also become the best choice for Orient.
"If the backdoor listing is successfully approved, Orient will undoubtedly further strengthen its position in the sapphire crystal growth field with the support of capital." Brokerage analysts who are concerned about the sapphire field believe that the current large-scale sapphire expansion There is still a certain risk of overcapacity in the later period.
Sapphire new round of investment fever <br> <br> With the rapid increase LED lighting needs, has led the expansion areas upstream epitaxial silicon, sapphire wafer as the main material also will be strong demand, coupled with the expected consumption The prospects for sapphire in the electronics sector are considerable, and the new round of sapphire investment has been crazy again since the second half of last year.
“The three main lines of LED industry investment in 2014 are upstream sapphire, downstream lighting application and mergers and acquisitions of the entire industry.†Zhang Hongbiao, research director of Gaogong LED Industry Research Institute, said that the current domestic sapphire flat substrate has been accepted by most customers. With the promotion of sapphire applications in high-end smartphones, smart wearable devices, etc., sapphire demand will grow rapidly.
Since last year, there have been several sapphire projects, and hundreds of crystal growth furnaces have invested in dozens. In addition to the accelerated expansion of the original sapphire enterprises, other investment entities include both epitaxial chip companies and long crystal furnace plants, as well as cross-border investments of listed companies that have nothing to do with the main business.
“We have already started to invest in sapphire equipment in Inner Mongolia. The first batch has arrived and is ready to start production. The annual plan is 100 sets of equipment, mainly based on 65kg.†Jingsheng Electromechanical (300316.SZ) Securities Affairs Representative Gao Jianqiang It is said that the first batch of 32 sapphire crystal growth furnaces of Inner Mongolia Jinghuan Electronics Co., Ltd. has been officially put into mass production. On August 5, the first 60 kg sapphire crystals were grown.
Just before, Crystal Optoelectronics (002273.SZ) disclosed the non-public offering plan, the company plans to increase the amount of not more than 75.67 million shares at a reserve price of 16.14 yuan per share, raising 1.221 billion yuan for investing in filter assembly. Expansion projects, sapphire crystal growth and deep processing projects and supplementary liquidity.
The plan shows that Crystal Optoelectronics will invest 586 million yuan to build a production line with an annual output of 1.2 million 4-inch graphic sapphire LED substrates (PSS), a production line with an annual output of 24 million sapphire windows, and an annual output of "80 kg". 2.5M millimeter sapphire crystal rod (2 inch conversion) of the crystal growth production base.
"The company's LED sapphire substrate plans to expand production by about 30%. At present, the company's sapphire PSS production capacity is about 150,000 pieces / year, and plans to expand production capacity to 200,000 pieces / year before the end of the year." Crystal Optoelectronics Secretary Kong Wenjun said LED sapphire Substrate products are currently in strong market demand, products are in short supply, the company is expanding according to market demand; and seeking market opportunities for sapphire products for mobile phones.
Tiantong Co., Ltd. also announced the additional issuance plan. The company intends to issue no more than 210 million shares to no more than 10 specific targets including the company's shareholder Tiantong High-tech Group Co., Ltd., and the issue price is not less than 9.66 yuan/share. The funds do not exceed 2 billion yuan. It is planned to invest more than 2 billion yuan in the investment of large-scale sapphire wafers for smart mobile terminals, and to implement front-end crystal growth and back-end wafer processing in Yinchuan, Ningxia and Haining, Zhejiang respectively. The proposed funds are 600 million yuan respectively. And 1.4 billion yuan.
“Continue to be optimistic about the sapphire industry†Mao Ping, a researcher at Guotai Junan Securities, believes that the sapphire industry is driven by the development of the LED industry and the demand for consumer electronics. It is expected that the second half of the year will be the real explosion of sapphire applications.
GF Securities also pointed out in a research report that the time and proportion of the iPhone and iWatch using sapphire screens are uncertain; and the sapphire crystal growth capacity is expanding, and the industry is at risk of overcapacity.
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