Core Viewpoint - SMIC is progressing with the acquisition of 49% equity in SMIC North from five shareholders for a total transaction price of 40.601 billion RMB, which will make SMIC North a wholly-owned subsidiary of SMIC [1][4] Group 1: Acquisition Details - SMIC plans to issue 547 million shares to acquire the 49% stake in SMIC North, with a share price of 74.20 RMB, representing a discount of over 39% compared to the closing price of 122.50 RMB on December 29 [1][2] - The valuation of SMIC North is assessed at 82.8 billion RMB, with an increase in value of 41 billion RMB, resulting in a premium rate of 98.19% [1][2] Group 2: Financial Performance - In 2024, SMIC North achieved a revenue of 12.979 billion RMB and a net profit of 1.682 billion RMB, reflecting year-on-year growth of 12% and 187% respectively [4] - The net asset value of SMIC South is reported to be 57.462 billion RMB as of September 30, 2025 [6] Group 3: Capital Increase and Shareholding Structure - SMIC South will receive a total cash injection of approximately 77.78 billion USD, with 35.773 billion USD allocated to registered capital and the remainder to capital reserves [5] - After the capital increase, SMIC's holding in SMIC South will rise from 38.515% to 41.561%, maintaining its position as the largest shareholder [5][6] Group 4: Market Performance - As of December 29, SMIC's A-shares have increased nearly 30% year-to-date, with a market capitalization of 622.6 billion RMB, while its Hong Kong shares have surged nearly 120% [7]
国家大基金等新投资中芯南方78亿美元，中芯控股仍是第一大股东
Guan Cha Zhe Wang·2025-12-30 03:47