Automatic Coffee Machine,Coffee Machine,Cappuccino Maker,Single Serve Coffee Maker,Drip coffee maker,POD coffee maker,Espresso coffee maker FOSHAN FORTUNE ELECTRICAL APPLIANCE CO.,LTD , https://www.coffelady.com
Advance into the LED upstream industry chain
In August 2011, in order to increase investment in new energy industries such as LED, the company decided to implement a technical transformation project with an annual output of 600,000 4-inch LED sapphire substrate materials. However, due to the sharp drop in the price of sapphire substrates in 2012, the company re-adjusted the capacity and benefit evaluation of the project. Under the premise of the original investment scale, the project was changed to “1.5 million pieces of 4-inch LED sapphire substrate material per yearâ€. Technical transformation project".
Although the middle and lower reaches of the LED industry chain have been in the stage of homogenization competition in recent years, the industry thresholds for products such as upstream epitaxial wafers and sapphire substrate materials are still high, and profit stands at the top of the “smile curveâ€. Industry insiders told reporters that in the entire LED industry chain, upstream LED substrate materials and epitaxy, chips and other fields have the highest profit margins and the most investment value.
The industry also pointed out that the sapphire substrate material production process is a very high-tech part of the entire LED industry chain, especially the epitaxial growth and processing of sapphire crystals, involving a large number of high-tech equipment and technology. Only a few countries in the world have mastered sapphire production technology, with higher levels of technology in the United States, Japan and Russia, and occupying most of the world's markets.
At present, there are not many enterprises that have mastered the production technology of large-size sapphire substrate materials in China. Under the background that the 4-inch sapphire substrate will gradually become the mainstream of the market, Tiantong Co., Ltd. introduced Japan's advanced Czochralski crystal technology and cutting and polishing process in March 2010, actively deploying the sapphire industry, and now it has mastered the complete Technical process and equipment technology.
The 180 million yuan in this fund will be invested in a technical transformation project with an annual output of 1.15 million 4-inch LED sapphire substrate materials. With a total investment of 360 million yuan, the project will produce sapphire single wafers for high-brightness LED semiconductor illuminating devices and high-speed, high-frequency radio communication device substrate materials. The company also said that it plans to continue to plan an annual production of 10 million 4-6 inch sapphire substrate projects to create an internationally competitive sapphire substrate manufacturing base.
After the project is put into production, the profit will increase by nearly 70 million.
In the past two years, due to the fluctuation of macroeconomic and raw material prices, the operating income and gross profit margin of the company's electronic materials (magnetic materials) have declined to varying degrees compared with 2010. At the same time, it is affected by the recession of the photovoltaic solar industry. The company's photovoltaic solar products have suffered losses. Under the background that other main businesses are greatly affected by the macro-economy, Tiantong has invested in the upstream LED new energy industry with a large profit margin, aiming to increase its performance and increase industrial transformation.
According to the statistics of the High-tech LED Industry Research Institute (GLII), the price of global LED sapphire substrates has bottomed out in the second quarter of 2012, and it is expected that prices will enter a recovery channel in the future. It is also predicted that domestic LED sapphire substrate materials are expected to enter a period of rapid growth in the second half of 2013, especially large-size LED sapphire substrate materials of more than 4 inches. The data shows that the price of 2-inch sapphire substrate is $10/piece in the third quarter of 2012, and the large-size sapphire substrate material such as 4-inch is 5-6 times the price of 2 inches per piece, which is 40-50 dollars/piece. In the future, as the price of sapphire substrates rebounds, the profitability of 4-inch sapphire substrate investment projects will be further enhanced. According to the feasibility study report, Tiantong Shares will realize an average annual sales income of 297 million yuan and an annual average after-tax profit of 68.36 million yuan.
Tiantong shares said that this additional issuance will play a very positive role in the industrial transformation of enterprises, the growth of performance and the creation of new economic growth points. After the completion of this non-public offering, the company will form an annual production capacity of 1.15 million pieces of 4-inch LED sapphire substrate material, and the proportion of LED new energy business in the company's overall business structure will be further enhanced. The additional issuance will also help the company expand its application in the field of LED energy conservation and other industries, and seize a more favorable position.
The actual controller is fully subscribed
It is understood that in this non-public offering of no more than 60 million shares, Tiantong Gaoxin, which is not involved in the subscription of more than 50 million shares in cash, is the company's second largest shareholder, and it is also the company's largest shareholder Pan Jianqing Holdings. the company. Pan Jianqing’s shareholding ratio of Tiantong High-tech is 75.78%, and the remaining shares are held by Pan Jianqing’s spouse Du Haili. After the issuance, Tiantong High-tech will become the company's largest shareholder with a shareholding ratio of 11.7%.
Another shareholder participating in this issuance is Du Haili, the spouse of Pan Jianqing, the actual controller of Tiantong Stock Co., who will subscribe for no more than 10 million shares in this issuance in cash.
Prior to this non-public offering, Pan Jianqing, Tiantong Gaoxin and Du Haili held a total of 12.69% of Tiantong's shares. After the issuance, Pan Jianqing, Tiantong Gaoxin and Du Haili increased their shareholdings to 20.76%. After the completion of the issuance, Tiantong High-tech was changed from the company's second largest shareholder to the largest shareholder, but because it is a company controlled by Pan Jianqing, this issue will not lead to changes in the company's control.
Insiders pointed out that Tiantong Gaoxin and Du Haili decided to fully subscribe for this non-public offering of shares in cash and increase the shareholding ratio of the company because Pan Jianqing and Du Haili are optimistic about the company's future development prospects, as well as LED upstream sapphire. The growth potential of substrate materials. They are using action to support the company to achieve rapid growth.
Future business or full bloom
In addition to the above-mentioned additional issuance projects, what other business highlights does Tiantong Shares have?
As a company mainly engaged in the business of magnetic materials, high-end special equipment manufacturing, electronic materials and parts, photovoltaic solar products, etc., Tiantong shares slowed down in the main magnetic material industry, and the overcapacity of new energy industries such as photovoltaic solar energy Innovation-oriented, while focusing on the core business of “bigger, stronger, and better†magnetic materials, it focuses on core industries such as high-end special equipment and electronic materials, and is committed to industrial transformation and upgrading, and strives to cultivate new economic growth points. The LED sapphire substrate invested in this investment is a positive expansion of the electronic materials business.
In the field of magnetic materials, the company has successfully developed a flexible thin magnetic separator product with international level TRC160 material, which can meet the future NFC (near-range communication) function in smart phones and consumer products, 2013 In the second half of the year, the capacity of the first phase of the planned plan will be reached. At present, foreign markets have begun to be fully applied. China's three major operators, UnionPay and major commercial banks have begun to promote the "mobile wallet" business, and NFC-enabled mobile phones will gradually become mainstream. With the gradual release of production capacity, it will meet the market demand for ferrite magnetic separators for NFC-enabled smartphones; in addition, the company has developed a series of ferrite sheet products that meet wireless charging functions, including those with wireless charging. Consumer electronics, including smartphones, and the market demand for future electric vehicles.
In terms of electronic materials, in addition to the LED sapphire substrate project to be funded, the company is also involved in the research and development and production of “supercomputersâ€. Tiantong Jingdian, a wholly-owned subsidiary, signed a "Strategic Cooperation Agreement" with the School of Computer Science and Technology of National University of Defense Technology. As a supercomputer production base of the National Defense Science and Technology University, Tiantong Jingdian will provide design and manufacture of motherboards and other components. At the same time, the two sides will actively promote cooperation in products and services for new generations of new supercomputer products.
In terms of high-end equipment, the control subsidiary Tiantong Jicheng successfully developed and started to produce CNC peripheral grinding machines and CNC forming presses, which can replace imported similar equipment and lead domestic technology. On January 18, the company announced that Tiantong Jicheng will have 6 million. Yuan invested in Zhejiang Jiying Industrial Intelligent Machine Technology Co., Ltd., which is expanding its new business in touch screen production line equipment, 3D molding equipment and robotics. Analysts said that this investment is conducive to expanding the company's equipment industry.
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Tiantong shares 300 million additional issued LED sapphire substrate into a new growth pole
On March 7, Tiantong Shares (600330) released a report on the issuance of non-public offering shares. The company issued no more than 60 million shares to shareholders Tiantong Gaoxin Group and its shareholder Du Haili. The final issue price is 5.15 yuan/share. The total amount of funds raised is not expected to exceed 309 million yuan, of which 180 million yuan is used for “annual production of 1.15 million pieces and 4 inchesâ€. LED sapphire substrate material technical transformation project, the remaining 129 million yuan to supplement working capital.