Recently, after inquiring from institutional investors, the transfer price preliminarily determined was 64.72 yuan per share. The shares to be transferred in this inquiry have been fully subscribed, and the transferees have been preliminarily determined to be 13 institutional investors, with a total of 2.004 million shares to be transferred. On the same day, Juchen Co., Ltd. and Montage Technology also announced shareholders' inquiries about transfer pricing.
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The shareholders of the three companies inquired about the transfer pricing on the same day
On July 23, 2024, Shenyang Xinyuan Microelectronic Equipment Co., Ltd. (stock abbreviation: Xinyuan Micro; Stock Code:688037. SH) said that the company's shareholder Shenyang Advanced Manufacturing Technology Industry Co., Ltd. entrusted CITIC Securities to organize the implementation of the inquiry transfer.
As of July 22, the number of shares held by the transferor before the initial offering was 21,068,915 shares, accounting for 10.52% of the company's total share capital, and the shares to be transferred were 2,004,000 shares, accounting for 1% of the company's total share capital. After inquiring with institutional investors, the preliminarily determined transfer price is 64.72 yuan per share. On July 23, the closing price of the company's stock was 64.9 yuan per share.
There are 13 institutional investors participating in this inquiry, including fund management companies, qualified foreign institutional investors, securities companies, private equity fund managers and other professional institutional investors. The shares to be transferred in this inquiry transfer have been fully subscribed, and the transferee has been preliminarily determined to be 13 institutional investors, with a total of 2,004,000 shares.
Also on July 23, Juchen shares (688123. SH), Montage Technology (688008. SH) also announced the company's shareholders to inquire about the transfer information.
Juchen Semiconductor (Hong Kong) Co., Ltd. (hereinafter referred to as Juchen Hong Kong) is the transferor of the equity of Juchen shares. As of June 30, 2024, the number of pre-IPO shares held by Juchen Hong Kong was 10,985,073 shares, accounting for 6.92% of the total share capital. This time, the number of shares to be transferred by Juchen Hong Kong is 3.18 million shares, accounting for 2% of the total share capital, and the reason for the transfer is its own capital needs.
After inquiring from institutional investors, the transfer price preliminarily determined by the shareholders of Juchen shares is 55.49 yuan per share. On July 23, the closing price of the company's stock was 59.14 yuan per share.
There are 14 institutional investors participating in this inquiry, which also covers fund management companies, qualified foreign investors, private equity fund managers, securities companies and other professional institutional investors. The total number of valid subscribed shares of institutional investors participating in this inquiry transfer quotation is 3.37 million shares, and the corresponding effective subscription multiple is 1.06 times. The shares to be transferred in this inquiry have been fully subscribed, and the transferees have been preliminarily determined to be 14 institutional investors, with a total of 3.18 million shares to be transferred.
Montage Technology is sold by China Electronics Investment Holdings Co., Ltd., Jiaxing Xindian Investment Partnership (Limited Partnership), and WLT Partners. The total number of shares to be transferred by the transferor is 17,207,300 shares, accounting for 1.51% of Montage Technology's total share capital.
According to the inquiry subscription on July 23, 2024, it was preliminarily determined that the transfer price of this inquiry was 57.72 yuan / share, and the company said that the price was 90.29% of the closing price of 63.93 yuan / share on the date of the company's shareholders' inquiry transfer (that is, July 22). However, on July 23, the closing price of the company's shares has fallen to 58.80 yuan per share.
There are 16 institutional investors participating in this inquiry and transfer quotation, and the total number of valid subscriptions is 21.39 million shares, which is 1.24 times the number of shares to be transferred. The shares to be transferred in this inquiry have been fully subscribed, and the transferee has been preliminarily determined to be 12 institutional investors, with a total of 17,207,300 shares.
Juchen shares and Montage Technology are expected to achieve good results in the first half of the year
Juchen Co., Ltd. expects to achieve operating income of 514.6788 million yuan in the first half of 2024, an increase of 62.37% over the same period of the previous year; The net profit attributable to the parent company was 142.9604 million yuan, an increase of 124.93% over the same period of the previous year.
The company believes that since 2024, the demand of the downstream application market has gradually recovered, and the shipments of products have achieved rapid year-on-year growth, while the shipments of the company's SPD products, NOR Flash products and automotive-grade EEPROM products have achieved rapid growth year-on-year.
Specifically, in the field of NOR Flash, the company has achieved large-scale supply to application markets such as electronic cigarettes, TWS Bluetooth headsets, AMOLED mobile phone screens and PLC components, with shipments of NOR Flash products exceeding 170 million units in the first half of the year, including more than 113 million units shipped in the second quarter, an increase of more than 100% over the first quarter. In addition, the company actively expands overseas key markets such as Europe, Korea and Japan, and works closely with mainstream domestic and foreign automobile manufacturers and many industry-leading automotive electronics Tier1 suppliers, the brand recognition and market competitiveness of automotive-grade EEPROM products have been further enhanced, and the shipments in the first half of the year have achieved rapid growth compared with the same period of the previous year.
Montage Technology expects to achieve operating income of RMB 1.665 billion in the first half of 2024, a year-on-year increase of 79.49%; The net profit attributable to the parent company was 583 million yuan to 623 million yuan, a year-on-year increase of 612.73% to 661.59%.
In the first half of 2024, the company's demand for memory interface and module supporting chips will achieve restorative growth, the downstream penetration rate of DDR5 will increase, and the iteration of DDR5 subgeneration will continue to advance.
The company's three new AI high-performance "capacity" chip products have achieved certain results.
Among them, PCIe Retimer chip shipments are growing rapidly, with about 300,000 chips shipped in the second quarter, following about 150,000 units shipped in the first quarter of 2024.
The high-bandwidth memory module of the MRCD/MDB chip has begun to be trialed on a large scale by mainstream cloud computing/Internet manufacturers at home and abroad, and the company's MRCD/MDB chip sales revenue exceeded 50 million yuan in the second quarter after the sales revenue exceeded 20 million yuan for the first time in the first quarter of 2024.
CKD chips will be the first in the industry to be put into trial production in April 2024, and benefiting from the AIPC industry trend, the company's CKD chips will begin to be shipped on a large scale in the second quarter of 2024, with a single-quarter sales revenue exceeding 10 million yuan for the first time.
Xinyuan Micro is mainly engaged in the research and development, production and sales of semiconductor special equipment, and its products mainly include gluing and developing equipment for lithography process and monolithic wet processing equipment.
The company said that in the first half of 2024, the company's overall signing situation is good, and the front-end chemical cleaning of strategic new products will promote R&D verification and client introduction in an orderly manner, which is expected to create a second growth curve for the company. As of June 2024, the company's orders in hand can support 2024 revenue.