High -tech development of the main business of building construction is difficult to build a new field of semiconductors. Will it be "dissatisfied"?

Reporter Li Beibei, a reporter from this reporter, reported by Beijing

Based on Chengdu High -tech Development Co., Ltd. (hereinafter referred to as "High -tech Development", 000628.SZ), which is based on Chengdu Hi -tech Zone, recently has a big move to expand, from the construction industry to the semiconductor industry, and to prepare related projects to raise investment in related projects. Essence

At the end of June, the high -tech development announced the acquisition of the two companies, Mori Technology and the high -investment non -semiconductor, and officially announced the entry into the semiconductor industry. On August 16, high -tech development said that the issue of convertible bonds will be issued 730 million yuan, of which 511 million yuan will be invested in high -end power semiconductor devices and component research and development projects.

Immediately after, on August 17, the High -tech Development Announcement stated that the controlling shareholder Gao Investment Group and the Bit Fund Management Company jointly launched the establishment of a semiconductor industry M & A fund with a total scale of 2.973 billion yuan. The fund will give priority to the high -tech development into the high -quality mergers and acquisitions, helping high -tech development to become bigger and stronger.

On August 19, Liu Zhigen, a well -known fiscal and tax audit expert, said in an interview with the China Times reporter that the core business of high -tech development is construction construction. Compared with the semiconductor industry, there are great differences in all aspects. After the merger, the "soil and soil" situation such as layman leaders, chaos, and blind commands may occur.

The main business development is weak

In recent years, the main business of high -tech development has not performed well.

According to the financial report, the net profit achieved a net profit of 173 million yuan in 2021, a year -on -year decrease of 35.26%; in the first half of 2022, the profit of high -tech development revenue declined, achieving operating income of 2.384 billion yuan, a year -on -year decrease of 16.43%, and the net profit was 60.14 million yuan. , Decreased by 38.73%year -on -year.

The main business of high -tech development is the construction of construction, the construction, operation and related service business of smart cities. Among them, the construction business is the module with the highest proportion of high -tech development revenue. In recent years, the proportion of total revenue has been above 80%, which is the core business of high -tech development.

However, the volume of high -tech development of construction business has not increased significantly, and the annual operating income volume has not exceeded 10 billion, and the overall scale is not large. At the same time, the gross profit margin of the core business of high-tech development has remained low. Among them, the gross profit margin ratio of the construction business from 2019-2021 is 6.92%, 7.88%, and 6.23%, and the gross profit margin in the first half of 2022 is 7.38%.

Affected by the downturn in the overall real estate market, and the gross profit margin space of the core business, in recent years, high -tech development has expanded business boundaries many times.

In 2019, high -tech development established the direction of the construction, operation and related service business of smart cities. In 2020, high -tech development, operation and related service business achieved operating income of 183 million yuan, and the gross profit margin was 38.68%, becoming the second largest business.

However, the construction, operation and related service business of high -tech development, operation and related service business are very small and developed in an unstable state. According to the financial report, the business revenue accounted for only 3.31%of the total revenue in 2020, and by 2021, the relevant revenue was reduced to 85.88 million yuan, and the proportion of the total revenue also shrunk to 1.30%. In the first half of 2022, this situation has not changed much.

Develop new semiconductor main business

Building a new main business with outstanding profitability and development prospects is still a key issue that needs to be resolved in high -tech development.

On June 20, the High -tech Development announced that it acquired 69.401%of Mori Technology's 69.401%equity for 282 million yuan, and acquired 98%of the equity of the core unauthorized semiconductor with a cash of about 1.9597 million yuan, obtained the control of the two companies, and officially entered the semiconductor industry to enter the semiconductor industry. And semiconductor business as the new main business.

Immediately after the acquisition, a series of fundraising movements. On August 16th, High -tech Development released the "Chengdu High -tech Development Co., Ltd. Popularly issued convertible corporate bond plans", which plans to issue 730 million yuan of convertible bonds. The plan is that 511 million yuan will be used for the research and development and industrialization projects of high -end power semiconductor devices and components in Chengdu High -end West District, and 219 million yuan will be used to supplement cash flow.

Immediately after, on August 17, the "Announcement on the Establishment of the Semiconductor Industry M & A Fund of the controlling shareholder and the company's participation companies" was issued, stating that the high -tech controlling shareholder High Investment Group and the Bete Fund Management Company jointly launched the establishment of a total scale of 29.73 29.73 The M & A fund of 100 million yuan in semiconductor industry helps high -tech development to make the main business of semiconductors, and give priority to injecting high -quality mergers and acquisitions in high -tech development.

High -tech development has received widespread attention from the industry from cross -border to high -tech semiconductor industries from the construction industry, and has also been questioned to a certain extent.

A series of high -tech development involved in the semiconductor industry has received close attention from the Shenzhen Stock Exchange. On June 28, 2022, the Shenzhen Stock Exchange sent a letter of concern to the rationality, risk, risk, and the financial and operational situation of the target company for the acquisition of Mori Technology and the core of the core of Senwei Technology.

High -tech development responded to the questioning of the Shenzhen Stock Exchange, affirming the rationality of the acquisition and the business prospects of the target company, and said that the acquisition of Mori Technology and high -investment unsecured semiconductor did not meet the major asset restructuring conditions, which did not constitute a major major assets, and did not constitute a major major assets. Asset restructuring.

In response to business adjustments, the reporter of the Huaxia Times intends to interview high -tech development and send it an outline to it on August 10, but as of press time, it has not received a reply.Liu Zhigeng said that corporate cross -border mergers and acquisitions are often relatively blind, radical and even adventure.The core business of high -tech development is construction construction. Compared with the semiconductor industry, there are great differences in all aspects.New shareholders often speak only by capital, and do not have the human resources, professional level and competence capabilities of managing the acquired enterprises. After the acquisition, there may be "water -and -water" situations such as layman leaders, chaos, and blind commands.

Editor -in -chief: Zhang Bei Editor: Zhang Yuning

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