Core Viewpoint - Shanghai Zhengfan Technology Co., Ltd. plans to acquire 62.23% equity of Liaoning Hanjing Semiconductor Materials Co., Ltd. for cash, which will make Hanjing a subsidiary of Zhengfan [1][3] Company Overview - Hanjing Semiconductor is a leading domestic supplier of quartz products and the first domestic producer of silicon carbide consumables, serving major semiconductor equipment manufacturers like Tokyo Electron and Hitachi [4] - The company is currently in a high growth phase, developing advanced production lines, including the first ultra-pure quartz production line in China and a silicon carbide components production line [4] Financial Performance - Hanjing's revenue for 2023, 2024, and Q1 2025 is projected to be 508.83 million, 461.36 million, and 88.22 million yuan respectively, with net profits of 117.92 million, 84.02 million, and 23.20 million yuan [5] - In 2024, Hanjing's revenue and net profit are expected to decline by 9.33% and 28.76% year-on-year [5] Valuation and Transaction Details - The valuation for Hanjing's 100% equity is set at 1.8 billion yuan, with the 62.23% stake priced at approximately 1.12 billion yuan [5][6] - The estimated price-to-earnings (PE) ratio based on Hanjing's 2024 net profit is 21.4 times, aligning with market valuations [5] Strategic Rationale - The acquisition aligns with Zhengfan's long-term focus on the semiconductor industry, aiming to integrate customer resources and expand market influence [7] - Zhengfan has been optimizing its industrial layout and expanding its scale through various financing methods, including a recent public offering of convertible bonds to raise 1.041 billion yuan for projects in electronic materials and pharmaceutical equipment [8]

Core Viewpoint - The acquisition of 62.23% equity in Han Jing Semiconductor by Zhengfan Technology aims to enhance its market position in the semiconductor industry and expand its product line in high-consumption components [1][9]. Group 1: Acquisition Details - Zhengfan Technology plans to acquire 62.23% of Han Jing Semiconductor for approximately 11.2 billion yuan, valuing the entire company at 18 billion yuan [6][7]. - The acquisition does not constitute a related party transaction or a major asset restructuring [1]. Group 2: Han Jing Semiconductor Overview - Han Jing Semiconductor specializes in high-precision quartz and advanced ceramic materials, serving as a key supplier to major semiconductor equipment manufacturers like Tokyo Electron and Hitachi [3]. - The company is currently in a growth phase, developing high-end production lines, including the first ultra-pure quartz production line in China [3]. Group 3: Financial Performance - Han Jing Semiconductor's revenue for 2023, 2024, and Q1 2025 is projected at 508.83 million yuan, 461.36 million yuan, and 88.22 million yuan, respectively, with net profits of 117.92 million yuan, 84.02 million yuan, and 23.20 million yuan [4]. - The company is experiencing a decline in performance, with a projected revenue and net profit decrease of 9.33% and 28.76% year-on-year for 2024 [4]. Group 4: Valuation and Performance Metrics - As of Q1 this year, Han Jing Semiconductor's total assets are valued at 979.45 million yuan, with a net asset of 256.89 million yuan [5]. - The valuation for the acquisition corresponds to a price-to-earnings (PE) ratio of 21.4 based on 2024 net profit estimates, which aligns with market valuation trends [5]. Group 5: Strategic Implications for Zhengfan Technology - The acquisition is expected to optimize Zhengfan Technology's industrial layout and enhance its influence in the domestic and international semiconductor markets [9]. - Zhengfan Technology has been actively expanding its business through various means, including a recent acquisition of a 30.5% stake in Hongge Semiconductor, increasing its ownership to 90.5% [10].

中国经济网北京7月9日讯正帆科技(688596.SH)昨晚披露关于筹划收购股权事项并签署《股权收购意向 协议》的公告称，公司拟以现金方式向SINGAREVIVAL控股私人有限公司(以下简 称"SINGAREVIVAL")、沈阳秦科创业投资合伙企业(有限合伙)(以下简称"沈阳秦科")、上海汉富集业咨 询管理合伙企业(有限合伙)(以下简称"上海汉富")、辽宁汉宥咨询管理合伙企业(有限合伙)(以下简称"辽 宁汉宥")、辽宁唐科咨询管理合伙企业(有限合伙)(以下简称"辽宁唐科")5名标的公司股东购买其持有的 辽宁汉京半导体材料有限公司(以下简称"汉京半导体")总计62.23%的股权，并将标的公司纳入合并报表 范围。 公司将以现金支付方式完成本次交易，资金来源为自有和自筹资金。本次交易完成后，汉京半导体将成 为正帆科技的控股子公司。 公司已与标的公司汉京半导体及其5位股东签署股权收购意向协议，各方同意拟按照标的公司100%股权 价值为18亿元估值转让62.23%的股权。据此计算，本次收购价为11.20亿元。本次交易最终的收购协议 尚未签署。本次签署《股权收购意向协议》系确定各方合作意愿和交易核心条款，该交易事项尚存在不 ...

以下文章来源于e公司 ，作者证券时报 黄翔 e公司 . e公司，证券时报旗下专注上市公司新媒体产品，立志打造A股上市公司资讯第一平台。提供7x24小时 上市公司标准化快讯，针对可能影响上市公司股价的主题概念、行业事件及时采访二次解读，从投资者 需求出发，直播上市公司有价值的活动、会议。 筹划收购。 7月8日，正帆科技（688596）公告，拟以现金方式购买汉京半导体5名股东持有的62.23%股权，交易完 成后，汉京半导体将成为正帆科技的控股子公司。本次交易不构成关联交易和重大资产重组。 资料显示，汉京半导体拥有高精密石英和先进陶瓷材料制造技术，主要产品包含石英管、石英舟、石英 环、碳化硅陶瓷舟、碳化硅陶瓷管、碳化硅陶瓷保温筒等。汉京半导体作为国内首家碳化硅耗材生产商、 国内石英制品产业的头部供应商，是东京电子（TEL）、日立国际电气（KE）等国际头部半导体设备厂商 的核心供应商，同时该公司产品已经导入台积电（TSMC）等众多国内外一线晶圆厂，以及北方华创、拓 荆、中微等国内半导体工艺设备厂商。 目前，汉京半导体正处于高速发展期，除现有产线外，还在推进高端产线建设，包括国内第一条极高纯石 英生产线，其产品等级将对 ...