The development of Jingwei Technology (hereinafter referred to as "the company") holding 36.34% (direct shareholding 33.87%, indirect shareholding 2.47%) of joint ventures, in accordance with the development of strategic development needs, to further enlarge and strengthen the LED industry, Enhance the development of Jingji Capital, accelerate the cultivation and layout of LED market segments, and consider the future listing arrangements. The company plans to introduce the new investor Guolian Industry and its indirect holding subsidiary Guolian Upgrade Fund through capital increase and share expansion.
On December 25, 2017, the parties to the agreement signed the “Capital Increase and Share Expansion Agreementâ€. Guolian Industry and Guolian Upgrade Fund invested a total of RMB 80 million, holding 31.01% of the shares, and became the largest shareholder of Development Jing. Among them, Guolian Industrial invested 705.854 million yuan, holding 27.53% equity; Guolian Upgrade Fund invested 94.134 million yuan, holding 3.66% equity. After the completion of the capital increase and capital expansion, the company abandoned the status of major shareholder, the shareholding ratio fell to 25.07% (including direct shareholding of 23.37%, indirect shareholding of 1.70%)
Development Crystal is mainly engaged in R&D, manufacturing and sales of LED epitaxial wafers, package modules and other LED light source products, and provides related after-sales services. The business scope covers epitaxial chips, package modules, lighting applications, etc. in the LED industry chain. The industry chain has the advantages of low cost and high efficiency. Now it has the ability to cooperate with upstream and downstream development to provide customers with LED integrated solutions.
Up to now, 87 crystal growth MOCVD equipments have been developed, which has an annual production capacity of more than 1.6 million pieces of 4 inch epitaxy. At the same time, it has 8 COB packaging lines and 31 EMC packaging lines. It has 800K/month 20W COB package and 178KK. / month EMC packaging capacity, the production line yield has reached international standards, production and operation is in good condition, and the output gradually increases with the demand of large customers.
The company will build a complete enterprise in the domestic LED industry chain, from chip to module vertical product integration, including LED epitaxial wafers, chip production lines to LED packaging, lighting applications and COB high-brightness lighting products.
In accordance with the development needs of the development of the crystal strategy, in order to further enlarge and strengthen the LED industry, the development of the crystal future plan to expand the scale on the basis of the existing MOCVD machine, while increasing the investment in LED advanced technology research and development, accelerate the cultivation and layout of automotive lighting LED, Small-pitch LED display devices, MicroLED, UVC, full-spectrum LEDs, mobile flash LEDs and other new market segments. In view of the fierce competition in the LED industry and huge investment in industrial capital, the company will introduce the powerful new shareholders, Guolian Industry and Guolian Upgrade Fund, through capital increase and share expansion, which will help strengthen the capital strength of the development of Jing and provide a strong support for its sustainable development. financial support.
At the same time, Shenzhen Technology gave up the priority to subscribe for capital contribution, the company's equity was further diluted, and the introduction of new shareholders of non-listed companies to replace the company's major shareholder status, which will also help the development of crystal compliance with the listing rules for its future listing Lay the foundation.
The successful implementation of this capital increase will have a positive impact on the development of the future development of the crystal, and the Company's waiver of the priority to subscribe for capital has no significant impact on the company's financial status and operating results.
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