Chapter 356 "Charming Semiconductor" huge financing

"Mr. Hu, your office is great!"

Hu Yang received Qian Tongxin in the small reception room next to the office. His secretary Mi Qi brought two cups of coffee, and the guests and hosts took their seats.

"Chairman Qian has worked hard these days. Did you fly back from Shanghai last night?"

Qian Tongxin also went to Charm Manufacturing in the past two days. After he had almost all the information in hand, he came to meet Hu Yang.

"Hard work is not to mention, it's all about work. The country now attaches great importance to the integrated circuit industry. This is thanks to Xintong International and Charming Manufacturing for giving the entire industry a good start. As for the situation, I have basically understood it.

Now let’s see what your Charming Technology Group does next.”

Hu Yang had talked with Qi Xiangmin a few days ago, and he was planning to package and list Charming Manufacturing and Chip Design Company. Since it is going to be listed, it is necessary to undergo a joint-stock reform in the early stage.

So today Qian Tongxin came to Hu Yang mainly to talk about this matter.

"We are considering this. First, we will merge and reorganize Charming Manufacturing and Chip Design Company. The reorganized company will be renamed 'Charming Semiconductor Co., Ltd.'. Then Charming Semiconductor plans to conduct private placement and completely complete the joint-stock reform."

If Hu Yang's plan is successfully implemented, the newly formed Charming Semiconductor will be a large enterprise integrating design and manufacturing.

"Okay! On behalf of the Integrated Circuit Development Fund, I hereby promise that we will participate in the additional issuance of Charming Semiconductor and assist the company in listing. Of course, adhering to our consistent principles, the fund will not interfere with the normal business management activities of the company."

Qian Tongxin immediately stated that he would invest in the newly formed Charming Semiconductor.

The total investment amount shall not exceed 6 billion yuan (rmb), and the share lock-up period shall be at least three years.

"However, Mr. Hu, we have two strategic partners who want to invest together this time. One is Anping Insurance and the other is Hongda Asset Management Company. I hope you will consider it."

Qian Tongxin immediately put forward a condition, which surprised Hu Yang.

However, the newly formed Charming Semiconductor will not issue additional shares exceeding 30% of the total share capital. It is not a big question whether the Integrated Circuit Development Fund will take this part of the shares alone, or it will be shared by several companies.

"Okay, when Charming Semiconductor completes the merger and reorganization, it will issue an additional issuance plan. We will discuss the details at that time."

Hu Yang thought for a while and agreed to Qian Tongxin's conditions.

"Okay, Mr. Hu has the courage. I will wait for your good news. Then I will take my leave today. When I have the opportunity, I will treat Mr. Hu to a drink."

Qian Tongxin immediately stood up to say goodbye and left the investment building.

Next, Hu Yang held an impromptu meeting of the decision-making committee to discuss the plan to merge with Charming Manufacturing by Charming Semiconductor.

"Mr. Hu, it is easy to reorganize the two companies such as Charming Manufacturing. What is more troublesome now is the asset evaluation of the two companies. I think this work should be carried out as soon as possible."

On this matter, everyone has the same opinion. Because they are all under the name of the group company, the reorganization is not troublesome. The key is to liquidate the assets and verify the capital and the subsequent additional issuance price.

Xu Younian and Wan Qingshan's proposal was approved immediately.

Xia Bing and Yan Hanzhang suggested that the price of private placement should be set at 2-3 times the net asset value. It is not appropriate to be too high or too low.

"Let the price of the additional issuance be determined within this range first. We will have to negotiate with the other party later. Manager Wan, please put aside other work on your hands recently and assist Mr. Yan in completing the merger and reorganization of the two companies as soon as possible."

Since there was no problem, Hu Yang asked Yan Hanzhang to start the work immediately. Considering the progress of the work, Hu Yang also asked Wan Qingshan to help temporarily.

After the meeting, Yan Hanzhang and Wan Qingshan began the work of liquidating the assets and capital of Charming Manufacturing and other two companies.

In less than ten days, the asset appraisal report was delivered to Hu Yang’s desk, along with the restructuring plan.

According to the plan, the reorganized Charming Semiconductor has net assets of 15 billion yuan (rmb) and a net asset value in US dollars of US$1.875 billion. It includes Charming Manufacturing, a chip design company, and the overseas Ripper Company.

The newly formed Charming Semiconductor will be chaired by Yan Hanzhang, with Huang Tao, Sa Hongli and Yang Chenglin as directors. Huang Tao will be the general manager of the company, and Sa Hongli and Yang Chenglin will be the deputy general managers.

Among them, Sa Hongli is mainly responsible for production and process technology research and development, while Yang Chenglin is responsible for chip design and solutions.

"Okay, then let's start the additional issuance work."

Hu Yang gently tapped the table and asked Yan Hanzhang and others to discuss the additional issuance plan with the Integrated Circuit Development Fund.

At present, the company's total share capital has been determined to be 15 billion shares, with a face value of 1 yuan per share. The amount of additional issuance in this round is 4.5 billion shares, and this price has been discussed repeatedly by both parties.

Neither Hu Yang nor Qian Tongxin participated in the specific negotiations. Neither did the fund's partners, Anping Insurance and Hongda Asset Management.

After several days of bargaining, the two parties finally determined the price of the additional issuance, which was 2.01 yuan per share.

"Mr. Hu, it's not easy to negotiate with you. Fortunately, the two parties finally reached an agreement. I said, let's sign the agreement quickly, and then let Mr. Hu treat us to a drink."

Qian Tongxin, representatives from Anping Insurance and Hongda Asset Management arrived at the 88th floor of the Investment Building.

A signing ceremony will be held in the banquet hall today, followed by a cocktail reception.

According to Hu Yang's idea, this matter should be handled in a low-key manner, but the city disagrees. The city also wants to use this signing ceremony to enhance the city's high-tech image.

"No problem, we have enough good wine management. Chairman Qian, everyone, it's almost time, let's get on stage quickly."

A signing stage was set up at the scene, and many media came to interview below. The city also sent several important figures to participate in today's ceremony. In short, Hu Yang still cooperated with the publicity.

The ceremony ended when several people put down their signature pens and stood up to face the camera. The photos and images of Populus euphratica were also rarely recorded and will appear in many media tomorrow.

The signing ceremony was followed by a reception. Hu Yang handed over the leadership to Yan Hanzhang, who left the banquet hall early.

After the completion of this round of additional issuance of the newly formed Charming Semiconductor, its name was changed to "Charming Semiconductor Co., Ltd."

The total share capital of the new company is 19.5 billion shares, of which the Integrated Circuit Development Fund and two persons acting in concert hold a total of 4.5 billion shares of the company, accounting for 23.0769%.

To this end, the Integrated Circuit Development Fund and two persons acting in concert have invested a total of 9.045 billion yuan.
Chapter completed!