HUA HONG SEMI(SH:688347) 21世纪经济报道·2025-09-01 00:16Core Viewpoint - The article discusses the restructuring plan of Huahong Company, which aims to acquire a 97.4988% stake in Huali Micro through a combination of share issuance and cash payment, while also raising funds from specific investors to support the transaction [1][5]. Group 1: Company Restructuring - Huahong Company plans to issue shares and pay cash to acquire a majority stake in Huali Micro, with the stock resuming trading on September 1 after a suspension since August 18 [1][3]. - The issuance price is set at 43.34 yuan per share, which is approximately 44.79% lower than the pre-suspension price of 78.5 yuan per share [5]. - The funds raised will be used for working capital, debt repayment, cash payments for the acquisition, and project construction of the target company [5]. Group 2: Financial Performance - In the first half of 2025, Huahong Company reported revenue of 8.018 billion yuan, a year-on-year increase of 19.09%, but the net profit attributable to shareholders fell by 71.95% to 74.32 million yuan [6][7]. - The company aims to eliminate competition by fully acquiring Huali Micro, which specializes in 12-inch integrated circuit wafer foundry services [7]. Group 3: Industry Trends - The semiconductor industry has seen a surge in mergers and acquisitions, with 139 events reported in 2025, up from 115 in the same period of 2024, driven by policy incentives and technological integration needs [8][9]. - Recent notable acquisitions in the semiconductor sector include various companies focusing on equipment, materials, and design, indicating a trend of "strong alliances" and "indirect listings" [9].