富创精密拟出资6亿元投资特殊目的公司 参与收购浙江镨芯80.81%股权

Core Viewpoint - Fuchuang Precision plans to invest in gas transmission component manufacturer Compart to enhance R&D and manufacturing synergy across key segments of its vertical supply chain, acquiring an indirect 21.58% stake in Compart after the investment [1][2]. Investment Structure - Fuchuang Precision will invest 600 million yuan in Shenyang Zhengxin Semiconductor Technology Co., Ltd. (Shenyang Zhengxin), acquiring a 27.65% stake, as part of a joint investment totaling 1.57 billion yuan [1]. - Shenyang Zhengxin will use the total investment of 2.17 billion yuan to increase capital in its wholly-owned subsidiary, Wuxi Zhengxin Semiconductor Co., Ltd. (Wuxi Zhengxin) [1]. - Wuxi Zhengxin will apply for a bank loan to finance the acquisition of Zhejiang Poxin Electronic Technology Co., Ltd. (Zhejiang Poxin) [1]. Acquisition Details - Wuxi Zhengxin intends to acquire a total of 80.81% of Zhejiang Poxin, with an agreement to pay approximately 2.448 billion yuan for 64.42% from non-state-owned transferors [2]. - The remaining 16.39% stake held by state-owned transferors will be publicly auctioned, and Wuxi Zhengxin plans to participate in the bidding [2]. - Zhejiang Poxin, along with its Hong Kong subsidiary, is a special purpose company with no actual business operations, holding a 96.56% stake in Compart [2]. Industry Context - Compart, headquartered in Singapore, specializes in flow control components for semiconductor gas delivery systems, covering R&D, assembly testing, and full supply chain technical services [2]. - The gas transmission system is critical in wafer manufacturing, directly impacting the quality, efficiency, and stability of integrated circuit production [2]. - The technology in this sector has been largely monopolized by overseas companies, resulting in a low domestic production rate [2]. Financial Performance - In 2024, Zhejiang Poxin is projected to achieve revenues of approximately 878 million yuan and a net profit of around 105 million yuan [2]. Reporting Structure - Fuchuang Precision will not consolidate the financials of Shenyang Zhengxin, Wuxi Zhengxin, Zhejiang Poxin, or Compart, as Shenyang Zhengxin is a joint venture [3]. - The company focuses on manufacturing core metal components, possessing comprehensive capabilities in precision machinery manufacturing, high cleanliness surface treatment, welding, assembly, and testing [3].