Core viewpoints
The company issued an announcement on the introduction of investors by Shanghai Fuchi to increase its capital and shares. Shanghai Fuchi intends to introduce investors in the way of capital increase and share expansion, causing Spark to increase its capital by 282 million yuan in cash. After the completion of this capital increase, the registered capital of Shanghai Fuchi will increase from 75 million yuan to 88 million yuan, the proportion of shares held by the company will be changed from 75.00% to 63.75%, and the shares held by far Spark will become 15%.
This time, Shanghai Fuchi introduced Yuanzhi Spark, mainly based on the company's own strategic development planning. Yuanzhi Spark shares will help to achieve complementary resources between the two sides, jointly promote the development of Shanghai Fuchi's main business, and the company's growth space is expected to open.
Event
The company issued a notice on the introduction of investors by Shanghai Fuchi to increase its capital and shares.
Shanghai Fuchi plans to introduce investors in the way of capital increase and share expansion, which will cause Spark to increase its capital by 282 million yuan in cash. After the completion of this capital increase, the registered capital of Shanghai Fuchi will increase from 75 million yuan to 88 million yuan, and the proportion of shares held by the company will be changed from 75.00% to 63.75%. Shanghai Fuchi is still a holding subsidiary of the company and will continue to be included in the consolidated statements of the company.
Brief comment
The company introduces state-owned shareholders.
The managing partner and manager of Yuanzhi Spark are Shenzhen Yuanzhi Venture Capital Co., Ltd., and the actual control is Shenzhen Capital Operation Group Co., Ltd. After the capital increase, the proportion of shares held by Dongmu shares in Shanghai Fuchi will be changed from 75.00% to 63.75%, and Yuanghuo's shares in Shanghai Fuchi will be changed to 15%.
The growth space of the company is expected to be opened.
According to Tianyan survey data, Shenzhen Yuanzhi spark private equity fund partnership (limited partnership) has invested in 17 enterprises, including Zhi Micro Semiconductor (Shanghai) Co., Ltd., Shanghai Xinxin connected Semiconductor Technology Co., Ltd., Ruomingxin Semiconductor Technology (Suzhou) Co., Ltd., and so on. At the same time, on September 28, 2023, Fujing Technology (SZ.002222) announced that Yuanzhi Spark would increase its capital by 100 million yuan through capital increase and share expansion, in order to accelerate the expansion of the company's business such as ultra-precision optical components. This time, Shanghai Fuchi introduced Yuanzhi Spark, mainly based on the company's own strategic development planning. Yuanzhi Spark shares will help to achieve complementary resources between the two sides, jointly promote the development of Shanghai Fuchi's main business, and the company's growth space is expected to open.
Profit forecast and investment advice: we expect the company's operating income from 2023 to 2025 to be 42.54 billion yuan respectively, an increase of 14.16% 17.21% and 16.75% respectively over the same period last year. The net profit of 2.25 SMC is RMB 3.51 million, up 44.42% and 56.17% respectively over the same period last year. Considering the growth of the company's performance in the future and the rapid growth of the folding screen mobile phone market, the company is expected to benefit and maintain its "buy" rating.