Sell assets to alleviate liquidity pressure of Royal Court International insisted on cross -border semiconductors

Southern Finance All Media Reporter Lin Dianchi Shenzhen Report

A few days ago, Huang Ting International (000056.SZ) announced that the company's wholly -owned subsidiary Huang Ting Fund recently signed an equity transfer agreement to acquire the power of ZHOU BING and Ningbo's Italian City. Semiconductor Co., Ltd. 9.67%and 4.76%of the equity, the prices are 55.61 million yuan and 27.39 million yuan, respectively.

It is understood that in 2021, Huang Ting International increased the capital of 50 million yuan through the Huangting Fund to indirectly holds an equity of 13.37%of its intention to pay, and the two acquisitions cost about 133 million yuan. After the acquisition was completed, the Huangting Fund held a total of 27.81%of the equity.

Regarding the purpose of the acquisition, Huang Ting International said that it was to promote the company's strategic transformation, explore new businesses, and develop semiconductor industries around "commercial management+technology". In the future, the company will use a variety of ways such as expanding reproduction, packaging and module extension based on the power semiconductor, and improve the profitability of the intention.

Falling into a liquidity crisis

Emperor Ting International was founded by Chaoshan merchant Zheng Kanghao, and started by business real estate development and real estate operation management. The first quarter report of 2022 showed that the company's net loss was 117 million yuan; the 2021 report showed that the operating income during the reporting period was 754 million yuan, a net loss of 1.258 billion yuan; a net loss of 320 million yuan in 2021. From this calculation, a total of 1.578 billion yuan in two years.

In response to the 2021 financial statements, the Asia -Pacific (Group) Accounting Firm (special common partnership) issued a audit report of no reservation opinions that emphasized the matters with major uncertainty and emphasizing matters.

As of the end of 2021, Huangting International's international mobile assets were 1.317 billion yuan, mobile liabilities were 5.236 billion yuan, and mobile liabilities were more than 3.918 billion yuan in mobile assets. A total of 3.443 billion yuan has been paid to the principal of the loan that has not been repaid, and there are problems with the company's short -term debt capacity.

The company's cash flow is stretched, and Huang Ting International seek to dispose of assets and company equity under the name. According to Huang Ting International disclosed on January 26, Shenzhen Huangting Real Estate Management Co., Ltd. and Chengdu Huangting Commercial and Huayin Financial Holdings were signed by the latter at a price of 50 million yuan. Responsible for the repayment of the corresponding 820 million yuan debt repayment.

The purchase of Italian power funds will also be derived from asset sale. According to the announcement, the source of funds for the acquisition of funds is the sale of Shenzhen Failure Investment Co., Ltd. (listing price of 5.62 billion), Chongqing Huangting Jewelry Plaza Co., Ltd. (listing price of 765 million) and Chengdu Huangting International Center (market price of about 800 million yuan) income) Essence

Southern Finance and Economics reporters called the Emperor's International Investment Department as an investor. The staff responded that the current asset sales are being promoted in an orderly manner. In response to the company's current financial situation, the other party said that the current downward pressure on real estate is relatively large. The company is stepping up the sale of the above three assets. If it is successfully sold, the liquidity crisis will be greatly relieved.

Persistent transformation semiconductor

On the one hand, Huangting International intends to peel off the real estate business, and on the other hand, it is seeking semiconductor transformation. The earliest beginning in August last year, Huang Ting International decided to increase the capital of 50 million yuan through the Emperor Ting Fund, indirectly holding an interest of 13.37%of its interest.

According to Huang Ting International in March 2022, the company injected 50 million yuan in capital to Yuanhe (Guangzhou) Semiconductor Technology Co., Ltd. (referred to as Yuanhe), and acquired 9.09%of the equity of the target company.

It is worth mentioning that the company was just established on February 17, 2022. The acquisition has not yet carried out substantial business business. As of the announcement date, there is no assets and business for the time being, and the registered capital has not yet been paid. As the holding subsidiary of Huaxia Core (Beijing) General Processor Technology Co., Ltd., Yuanhe promised to obtain Huaxiaxin injecting related technical patents, including but not limited to AR optical engine technology, and registered more than 50 new patents in 2022 and the next three years.

In addition, on the evening of June 1st, Huangting International announced that the company and Beijing Gold Top Capital Investment Co., Ltd. (referred to as Jin Tuo Capital) and Shenzhen Hechuang Capital Management Co., Ltd. (referred to as Hechuang Capital) Signed a strategic cooperation agreement.

Jin Tuo Capital and Hechuang Capital will excavate and find unbound high -quality enterprises that focus on the semiconductor field that meets the national industrial policies and industry supervision regulations, and enhance the investment field of Huangting International in the semiconductor field.

This time, the power of the control of the control was taken again. Huang Ting International staff said that the company's transition to semiconductor transitions was deeply considered.

Data show that it is mainly engaged in the design, manufacturing and sales of power semiconductor devices and intelligent power control devices. In 2021, the operating income was 100 million yuan, and the net loss was 13.54 million yuan. While the loss expands, operating income has decreased further. The reporter noticed that the amount of acquisition of Huangting International increased compared with last year, which means that the power valuation has further increased.

Huang Ting International staff explained that the power production capacity and order volume are better than the same period last year, and the current valuation is reasonable. According to the announcement, the sales revenue was 31.86 million yuan in the first quarter, and the 6 -inch wafer capacity reached an estimated production capacity of 20,000 tablets/month in June.

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