Chapter 345 7 billion financing plan

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

In the industry, countercyclical investment is normal, and the reason is the same as taking advantage of overcapacity to develop new process technology.

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

"All I can say is a strong recovery for the entire industry, which will come soon. At that point, capacity will be tight. Therefore, investing in building a factory now is the best choice. Of course, it's not bad to be able to get 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" was just enough to expand production capacity.

In addition, Meng Rusong explained the necessity of building a factory, and as for funding, that is an issue that shareholders should consider.

"Hey, I said Mr. Meng, you are a typical person who kills and buries. Okay, I'll leave the report here for now, and then we'll discuss it when we come back to the board meeting. ”

Hu Yang shook his head helplessly and decided to hold a temporary board meeting.

Three days later.

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

"Ladies and gentlemen, everyone has read Mr. Meng's report, and now we will start discussing. ”

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

"Let me start with a few words. The first to speak was Director Huang, who represented Hantang Communications, "When the company was listed, it raised a total of 7.334 billion yuan. These funds include 2.1 billion yuan for the acquisition of Motorola's second wafer factory in Jinmen, and about 1 billion yuan in equipment renewal and research and development. The rest of the funds should be fine to build a wafer factory on its own, right?"

At this time, the secretary of the board of directors hurriedly took out the financial report, and the company's funds are still about 4.5 billion yuan.

Another director shook his head and said, "Ladies and gentlemen, it is not a big problem to build a new factory with our own funds. However, with this investment, the company has little money left.

Mr. Meng's report also said that after the 130 (NM) process technology enters trial production, he will start the research and development of the 90 (NM) new generation process technology. Excuse me, where will the company's future R&D 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 disproportionate to revenue.

After calculation, Xintong International's net profit this year is roughly between 200 million and 300 million yuan. This number is really pitiful.

Next, the directors spoke one after another, some in favor and some in disapproval. But no one talked about financing, and everyone was more cautious on this issue.

Hu Yang finally spoke, saying, "Then I will also say a few words." What I mean by this is that companies should consider making additional offerings publicly. At present, the share price of Xintong International is 5.72 yuan, and the price of additional issuance can be set at about 5% off the current price. The number of additional issuances is capped at 20% of the total share capital. ”

The current stock price of Xintong International is the price after the 10 free and 10 ex-rights, which basically fills the rights.

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

At present, the total share capital of Xintong International is 12,866.84 million shares. According to the ratio of 20%, the number of additional shares issued this time does not exceed 2.6 billion shares.

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

An additional 2.6 billion shares were issued, and the total amount of funds raised was more than 7 billion yuan. In the case that the company's earnings prospects are not very good, of course, there will be a possibility that it will not be sold.

One director expressed concerns.

Huang Dong smiled and said: "What does Hu Dong mean by this? Do you participate or not? If you participate, the additional issuance of 2.6 billion shares should be no problem." If you don't participate, I guess the additional issuance will fail. ”

Hu Yang couldn't help laughing, pointed at Director Huang and said, "You are my general...... Huang Dong, I won't say hypocritically, I will cover 40% of the number of additional shares issued this time. So, what about guys?"

Zhang Rulin, the representative of the executive vice president, attended the meeting, and he hadn't spoken much before, when his face became a little unsightly, and he said in a deep voice: "I oppose the proposal for this additional issuance." ”

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

"This ...... I propose to adjourn the meeting now and give more time to discuss the matter. Hu Dong, what do you say?"

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

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

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

Director Huang is a little unhappy, do you have a lot of time to be one of these people? The agenda of the board meeting has been passed to the directors in the first two days, and now I think about it to discuss, I really don't know what to say.

However, Director Huang just wanted to speak, and Hu Yang smiled and glanced at him.

"In this case, you go and call Dr. Zhang now, and we will wait for you for half an hour. ”

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

The CEO could only answer and walked out of the conference room with an unhappy face.

None of the directors showed impatient looks, and everyone chatted in twos and threes. It didn't take long, about ten minutes later, and the executive vice president walked back.

"Chairman Hu, directors, Chairman Zhang Rulin agreed to the company's additional issuance. In addition, Chairman Zhang gave up participating in this round of financing. ”

The executive vice president felt very breathless, when he followed Dr. Zhang to found Xintong International, in the blink of an eye, the company's voice has undergone a fundamental change.

Zhang Rulin didn't say anything on the phone, only said that he should cooperate with the work of Hu Dong and Mr. Meng.

"Alright, the meeting continues. ”

Hu Yang then presided over the meeting, and since Zhang Rulin did not oppose the additional issuance plan, then a vote could be held.

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

"Ladies and gentlemen, please voluntarily subscribe for the additional shares. As I said earlier, I am willing to subscribe for up to 40% of the total amount of the additional issue. ”

In this round of additional issuance, the premium is relatively large, and Populus euphratica feels a little painful, let alone others?

Except for Director Huang, who represents Hantang Communications, the other directors are like Zhang Rulin, who gave up participating in this round of financing.

Hu Yang looked at Director Huang, and the other party smiled and said: "I definitely can't let Chairman Hu fight alone, our company has decided to subscribe for no more than 20% of the total amount of shares issued in this round." ”

"Well, that's the end of today's meeting. Secretary Zhang, you hurry up and sort out the board minutes, and then make an announcement. ”

The matter of the additional issuance has been successfully passed, and Hu Yang's "Huijia Department" and Hantang Communication have promised to subscribe for 60% of the additional issuance shares, and the remaining 40% will be issued to the public.

However, the additional issuance of Xintong International still has to hold a general meeting of shareholders. This is not a problem, the board of directors represents the majority of the company's shares. Holding a general meeting of shareholders is nothing more than a formality.

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

"Dong Hu, are you going to throw money at Xintong International regardless of the cost? To be honest, if you come to such an additional issuance a few times, even our Hantang Communication will not dare to follow. By the way, have you heard a rumor?"

Director Huang's temper is not very good, but after getting acquainted, he is still very easy to get along with.

"Rumors, what rumors?"

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

"Hehe, you are still the largest shareholder of Xintong International, you haven't heard of such a big thing in the industry? It is rumored that the state has set up a fund for the development of integrated circuits, but it has not been publicly announced. The exact scale is not yet known, but the state's support for the industry is unprecedented. ”

Hantang Communications 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?

The integrated circuit development fund focuses on supporting the domestic semiconductor design and manufacturing industry. According to the investment direction of the fund, Xintong International and Charm Manufacturing should be among the best.

This is certainly a good thing, as it shows that the industry as a whole is being valued at the national level. In fact, the word chip has been a noun that appears very frequently in the next ten years.

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

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

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

Director Huang glanced at Hu Yang, and said in his heart, this matter has not been skimmed yet, what are you Hu Dong excited about now?

"Well, although the specific scale is not known, there is news that the total amount of the fund is about 10 billion yuan to 20 billion yuan. ”

Why didn't Director Huang want to say it before? Because the difference between 10 billion and 20 billion is too big, and it makes no sense to say it.

When Hu Yang heard the other party say this, a trace of apprehension in his heart quietly disappeared.

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

Hu Yang remembers very well that the integrated circuit fund established by the state in the future, which is commonly known as the "big fund", will reach 100 billion yuan in the first phase and exceed 200 billion yuan in the second phase.

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