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Chapter 345 70 Billion Financing Plan

Chapter 345 70 Billion Financing Plan

"Then congratulations to Mr. Meng, you have to worry about the company's affairs. By the way, I saw a report submitted by the company that the company plans to build or acquire another factory. Mr. Meng, the capital of Xintong International is now It is not loose, from what perspective do you raise this issue?"

In the industry, counter-cyclical investment is normal, and the reason is the same as taking advantage of excess capacity to develop new manufacturing processes.

But the problem is that Xintong International has invested heavily in research and development.If another new factory is built (acquired), the company will be under great financial pressure.

"I can only say that the strong recovery of the entire industry will come soon. At that time, the production capacity will be very tight. Therefore, it is the best choice to invest in building a factory now. Of course, it is not bad to be able to acquire a ready-made factory .”

Hu Yang understood what Meng Rusong meant, and took advantage of the "off season" to build a factory, and the "peak season" just happened to be able to expand production capacity.

In addition, Meng Rusong explained the necessity of building a factory. As for capital, that is something shareholders should consider.

"Hey, let me tell you, Mr. Meng, you are a typical example of controlling the killing and not burying it. Well, let me put the report here first, and discuss it later when the board of directors meeting is held."

Hu Yang shook his head helplessly, and decided to call an impromptu board meeting.

three days later.

In the conference room of Xintong International Administration Building, all the directors of the company have arrived.Zhang Rulin is currently recuperating in Texas, USA, and he entrusted the executive vice president to attend the meeting on his behalf.

"Everyone, everyone has read Mr. Meng's report, and now we start discussing it."

Hu Yang convened and presided over the board meeting as an executive director. The secretary of the board of directors made preparations in advance. All directors had read Meng Rusong's report before.

"Let me say a few words first." The first person to speak was Director Huang representing Hantang Communications, "When the company went public, it raised a total of 73.34 billion yuan. With these funds, 21 billion yuan was used to acquire Motorola's second building in Jinmen. The wafer factory, as well as the equipment update and research and development, invested about 10 billion yuan. The remaining funds will be used to build a wafer factory by ourselves, should it be no problem?"

At this time, the secretary of the board of directors hurriedly took out the financial report. At present, the company still has about 45 billion yuan in funds.

Another director shook his head and said: "Everyone, the current self-owned funds to build a new factory are not a big problem. However, after this investment is made, the company does not have much funds left.

Didn’t Mr. Meng’s report also say that after the 130 (NM) process technology enters trial production, he will start the research and development of the 90 (NM) next-generation process technology.May I ask, where will the company's future research and development expenses and daily expenses come from? "

At present, the profitability of Xintong International is not strong, mainly because of the huge R&D expenses, which are out of proportion to the revenue.

After calculation, Xintong International's net profit this year is roughly between 2-3 million yuan.This number is really pitiful.

Next, all the directors spoke one after another, some agreed and some disagreed.But no one talked about financing, and everyone is more cautious on this issue.

Hu Yang finally spoke, and said: "Then let me say a few words. What I mean is that the company should consider publicly issuing additional shares. At present, the stock price of Xintong International is 5.72 yuan, and the price of the additional issue can be set at about 5% off the current price. The number of additional issues Well, let’s take 20% of the total share capital as the upper limit.”

The current stock price of Xintong International is the price after ten free ten ex-rights, which basically fills up the rights.

According to Populus Hu Yang's proposal, the additional issue price is 2.86 yuan per share, which is equivalent to 5.72 yuan before the share bonus, and the price is not low.

At present, the total share capital of Xintong International is 128.6684 billion shares.Calculated according to the ratio of 26%, the number of additional shares issued this time will not exceed [-] billion shares.

"Mr. Hu, the amount of funds raised is a bit too large. I'm afraid that the company's additional issuance will fail."

26 billion additional shares were issued, and the total amount of funds raised was more than 70 billion yuan.When the company's profit prospects are not very good, of course there will be a possibility that it will not be sold.

One director expressed concern.

Huang Dong smiled and said, "What does Mr. Hu mean by this? Do you participate or not? If you participate, the additional issuance of 26 billion shares should be fine. If you don't participate, I think the additional issuance will definitely fail. .”

Hu Yang couldn't help laughing, pointed at Director Huang and said, "You are my general. Director Huang, I won't say anything hypocritical. I will cover 40% of the additional shares issued this time. So, everyone Woolen cloth?"

The executive vice president attended the meeting on behalf of Zhang Rulin. He hadn't spoken much before. At this moment, his face became a little ugly, and he said in a deep voice, "I oppose this proposal for additional issuance."

Director Huang glanced at him and asked, "Is this Dr. Zhang's opinion, or are you making your own decision?"

"I propose to adjourn the meeting now to give everyone more time to discuss this matter. Director Hu, what do you think?"

The executive vice president is not against the additional issuance, but against Hu Yang's continued increase of equity in Xintong International.

If according to Hu Yang's plan, Zhang Rulin has no funds to invest in, doesn't it mean that Zhang Rulin's shares in Xintong International are getting less and less?

Therefore, he called off the board meeting in order to discuss it with Zhang Rulin again.

Director Huang is a little unhappy, do you have a lot of time to be these people?The agenda for the board meeting was passed to all the directors in the first two days, and it is only now that I think of discussing it.

However, just as Director Huang was about to speak, Hu Yang smiled and winked at him.

"Well, you can call Dr. Zhang now, we will wait for you for half an hour."

Hu Yang asked the executive vice president to call Zhang Rulin to discuss something, half an hour should be enough.

The chief executive could only respond, and walked out of the meeting room with an unhappy expression on his face.

None of the directors showed any signs of impatience, and everyone chatted in twos and threes.It didn't take long, and after about ten minutes, the executive vice president came back.

"Mr. Hu, all directors, Chairman Zhang Rulin agrees to the company's additional issuance. In addition, Chairman Zhang renounces participation in this round of financing."

The executive vice president felt very suffocated. He followed Dr. Zhang to found Xintong International until now. In the blink of an eye, the company's right to speak has fundamentally changed.

On the phone, Zhang Rulin didn't say anything, but asked him to cooperate well with Mr. Hu and Mr. Meng.

"Okay, let's continue the meeting."

Hu Yang then presided over the meeting. Since Zhang Rulin did not object to the additional issuance plan, a vote could be made.

As a result of the voting, the additional issuance plan of Xintong International was unanimously approved by all directors.

"Everyone, next, please voluntarily subscribe for the additional shares. As I said just now, I am willing to subscribe for no more than 40% of the total additional shares."

In this round of additional issuance, the price premium is relatively large, even Populus euphratica feels a bit pained, let alone other people?
Except for Director Huang representing Hantang Communications, the other directors, like Zhang Rulin, gave up participating in this round of financing.

Hu Yang looked at Director Huang, who smiled and said, "I definitely can't let Director Hu fight alone. Our company has decided to subscribe for shares that will not exceed 20% of the total additional issuance in this round."

"Okay, this is the end of today's meeting. Secretary Zhang, hurry up and sort out the minutes of the board of directors, and then make an announcement."

The additional issuance went through smoothly. Hu Yang's "Huijia Department" and Hantang Communications have promised to subscribe for 60% of the additional issuance, and the remaining 40% will be issued publicly.

However, the additional issuance of Xintong International still requires a general meeting of shareholders.This is no problem, the shares represented by the members of the board of directors have already accounted for the majority of the company.Holding a general meeting of shareholders is nothing more than a formality.

However, additional issuance still needs to be approved by the supervisory exchange, and it is estimated that it will take some time.

"Mr. Hu, are you going to throw money at Xintong International regardless of the cost? To be honest, even Hantang Communications will not dare to follow this kind of additional issuance. By the way, have you heard of a rumor? ?”

Director Huang has a bad temper, but after getting acquainted with him, he is quite easy to get along with.

"Rumours? What rumors?"

Hu Yang didn't know what Director Huang wanted to say.

"Hey, thanks to the fact that you are still the largest shareholder of Xintong International, you haven't heard of such a big event in the industry? Cough cough, then let me tell you. Rumor has it that the country has established an integrated circuit development Fund, but it has not been publicly announced. The specific scale is still unknown, but the state's support for the industry is unprecedented."

Hantang Communication is a state-owned enterprise, and Director Huang's news is indeed better than that of Hu Yang.

Hu Yang was stunned. In his memory, the establishment of the integrated circuit development fund by the state should be 8 years later, right?
Integrated Circuit Development Fund focuses on supporting domestic semiconductor design and manufacturing industries.According to the investment direction of the fund, Xintong International and Charming Manufacturing should both be among the best.

This is of course a good thing, which shows that the whole industry has been valued from the national level.In fact, the word chip will always be a term with high frequency in the next ten years.

Chip design and chip manufacturing all belong to the semiconductor industry, and they all belong to the big industry of integrated circuits.

"Huang Dong, you don't know the exact scale, not even the approximate range?"

Hu Yang suspected that history had changed quietly, which made him puzzled, so he asked again.

Director Huang glanced at Populus euphratica, and said to himself, this matter has not yet been written off, why are you so excited now, Director Hu?
"Well, although I don't know the exact size, it is reported that the total amount of the fund is about 100 billion to 200 billion yuan."

Why didn't Director Huang want to say it before?Because the difference between 100 billion and 200 billion is too big, it doesn't make sense to say it.

When Hu Yang heard what the other party said, the anxiety in his heart disappeared quietly.

It seems that the integrated circuit development fund mentioned by Director Huang is not the big fund in the future.

Hu Yang remembers very clearly that the integrated circuit fund established by the state in the future, also known as the "big fund", will have a scale of 1000 billion yuan in the first phase, and more than 2000 billion yuan in the second phase.

　Happy holidays everyone!There is another chapter in the afternoon.
　　
　
(End of this chapter)