Leidi.com Lei Jianping August 7th
Hua Hong Semiconductor Co., Ltd. (abbreviation: "Hua Hong Company", stock code: "688347") was listed on the Science and Technology Innovation Board today.
Hua Hong Company issued 407.75 million shares at a price of 52 yuan, raising a total of 21.2 billion yuan.
Huahong Company originally planned to raise 18 billion yuan, of which 12.5 billion yuan was used for the Huahong Manufacturing (Wuxi) project, 2 billion yuan was used for the 8-inch plant optimization and upgrading project, and 2.5 billion yuan was used for the characteristic process technology innovation research and development project. 1 billion yuan will be used to replenish working capital.
This means that Hua Hong Company raised 3.2 billion yuan.
The opening price of Huahong Company was 58.88 yuan, a 13% increase from the issue price; the closing price was 53.06 yuan, a 2% increase from the issue price; based on the closing price, the company's market value was 91.045 billion yuan.
Annual revenue of 16.8 billion
Hua Hong Corporation is a pure-play foundry with unique technology, focusing on differentiated technology platforms such as embedded non-volatile memory, power devices, analog and power management, logic and radio frequency. Hua Hong Semiconductor is a member of Hua Hong Group, which is an enterprise group with integrated circuit manufacturing as its main business and advanced technology of "8-inch + 12-inch" production line.
Hua Hong Corporation has three 8-inch (200mm) fabs (Hua Hong No. 1, No. 2 and No. 3 fabs) in Jinqiao and Zhangjiang, Shanghai, with a monthly production capacity of about 180,000 wafers; at the same time, there is one in Wuxi High-tech Industrial Development Zone 12-inch (300mm) wafer fab (Huahong No. 7 Fab), with a monthly production capacity of 65,000 wafers, supports applications in emerging fields such as the Internet of Things.
Huahong No. 7 Factory was officially completed in 2019 and entered the production and operation period. It has become the only 12-inch special process production line in mainland China, and it is also a 12-inch power device OEM production line.
The revenue of Huahong Company in 2020, 2021 and 2022 will be 6.737 billion yuan, 10.63 billion yuan, and 16.786 billion yuan respectively; the net profit will be 46.805 million yuan, 1.463 billion yuan, and 2.725 billion yuan; the net profit after deducting non-existing expenses will be 181 million yuan respectively Yuan, 1.083 billion yuan, 2.57 billion yuan.
Huahong Company's revenue in the first quarter of 2023 was 4.374 billion yuan, an increase of 14.9% from 3.8 billion yuan in the same period last year; net profit was 966 million yuan, an increase of 51.89% from 636 million yuan in the same period last year; 1 billion yuan, an increase of 68.93% from 593 million yuan in the same period last year.
Hua Hong Company expects revenue in the first half of 2023 to be 8.5 billion to 8.72 billion, a year-on-year increase of 7.19% to 9.96%; the estimated net profit attributable to the owners of the parent company is about 1.25 billion to 1.75 billion, a year-on-year increase of 3.91% to 45.47% ; It is estimated that the deduction of non-net profit ranges from about 1.150 billion yuan to 1.65 billion yuan, a year-on-year increase of 2.93% to 47.69%.
Big funds are shareholders
Before the IPO, Hua Hong International held 26.71% of the shares, Lianhe International, a subsidiary of Shanghai Lianhe, held 14.52%, and Xinxin Hong Kong, a subsidiary of the Great Fund, held 13.73% of the shares.
After the IPO, Huahong International held 20.04%, Lianhe International held 10.89%, and Xinxin Hong Kong held 10.3%.
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