Laguna Hotel near Kwun Tong Industrial Park, lobby.

Yu Zixian saw Jiang Yuehua, who was waiting for him.

"Happy New Year, Mr. Yu!"

"Manager Jiang, Happy New Year!"

"Mr. Yu, in this acquisition of Cai's wafer fab, I, as your VIP account manager, will serve you throughout the process, whether it is in financing or other services you need!"

Jiang Yuehua hesitated slightly, and then continued: "At the same time, this should be my last VIP service at HSBC, and I hope we have a happy cooperation!"

"Manager Jiang, no problem, we have cooperated before, and the cooperation is good. I believe this cooperation will be very pleasant!" Yu Zixian stretched out his right hand and shook hands.

Jiang Yuehua stepped aside sideways and introduced a middle-aged man next to Yu Zixian: "Mr. Yu, this is Qu Yaoqiangqu Manager of Xinli Professional Consulting Company who we entrusted to conduct due diligence on Cai's wafer factory. ”

"Hello Manager Qu!"

A capable middle-aged man.

"Hello Mr. Yu, according to the requirements of the commission, we have completed the due diligence on Cai's wafer factory in the shortest possible time, and this is the investigation report. After speaking, Manager Qu handed Yu Zixian a report.

Yu Zixian took it and opened it.

"I will interpret the report in detail, and if Mr. Yu has any other needs or questions about the content, you can put it forward!"

Seeing Yu Zixian nodding, Qu Yaoqiang began to interpret the report:

"For the purpose of this acquisition of Cai's Wafer Factory, in accordance with the relevant regulations of Heung Kong and the requirements of Mr. Yu, our company conducted legal due diligence on Cai's Wafer Fab from January 15 to February 13, 1991.

During the due diligence process, we checked the documents provided by the Chua fab, conducted interviews with relevant management personnel, and verified the relevant information of the Chua fab with an independent third party.

On this basis, we conducted comprehensive due diligence on the team, business, market, technology, financial and legal situation of the Chua fab......

At present, according to the business license of the enterprise legal person, Cai's wafer fab is a private proprietorship, and Mr. Cai Zhenhua holds 100% of the shares of Cai's wafer fab......"

Yu Zixian flipped through the "Due Diligence Report of Cai's Wafer Factory" and listened to Qu Yaoqiang's explanation, which can be regarded as having a more detailed understanding of the operation of the entire enterprise, and further sorted out the entire report according to his own understanding:

Cai Yaohua began to introduce the production line of the wafer factory in 1983, and it was not until 1984 that the production line was successfully introduced from Toshiba, and it reached full production in mid-1985.

A total of nearly 6 million US dollars was spent in the entire introduction process, which was due to Cai Yaohua's old relationship with Toshiba and the fact that the second-hand production line itself was three or four generations behind the mainstream level, and Toshiba needed to update the production line at that time, so it was bought back.

Otherwise, this price will definitely not be able to be introduced.

The entire production line has 8,000 pieces per month, and the technical process level is 3μm process, which can produce nearly 1.5 million chips of various types every year. The products are mostly used in the front-end process manufacturing of general-purpose chips used in the consumption of low-end electronic products, and there is a certain level of post-packaging process, but the scale is limited.

The products are mainly sold to the mainland.

At present, there are nearly 800 employees, including nearly 200 professional and technical personnel and management personnel, 1 doctor, 25 graduate students and more than 100 undergraduates.

At present, the total assets (including fixed assets) are assessed at more than 300 million US dollars, and the long-term debt is 1.5 million US dollars......

There are no other legal debts and property disputes.

……

In fact, Yu Zixian is most concerned about the debt issues and legal disputes of Cai's wafer factory.

According to Cai Yaohua and the investigation report, the contents corroborated each other, and it was determined that the debt was only a long-term debt of US$1.5 million, and there were no legal disputes in the entire factory.

That's enough.

As far as Yu Zixian understands the situation, Yu Zixian is still very satisfied with Cai's wafer factory.

According to Tong Ruoyu's introduction, for Yu Zixian, the 3-micron production process is about to break through to 70% yield, and the technological breakthrough of the 2-micron process, both of which are worth a lot of money.

Speaking of the products produced, at least there is no problem at all in terms of sales.

Although the 3-micron 64KB DRAM memory chip used in the production of cassette tape, due to the difference in the production process of logic chip and memory chip, the production line cannot produce it and can only be purchased.

However, Dr. Xiao's monthly output is 60,000, and the supporting game cartridges are also this number, and the monthly chip consumption is nearly 400,000 pieces. Among them, there are two types of chips that can be produced by the Tsai's wafer factory, about 120,000 pieces, and nearly 1.4 million a year, which almost eats up the production capacity of the Tsai's wafer factory!

So Yu Zixian is not timid in product sales!

If the 3-micron process breaks through to 2 microns, the yield is controlled at more than 50%, and the output of chips can be increased by 2/3, and it is hoped that it will break through to nearly 2 million pieces.

Of course, with the progress of the process, the investment in some equipment will inevitably increase, and at the same time, the initial stage of process transformation will bring the problem of yield reduction, but the benefits brought by the breakthrough of the process are still far greater than the investment.

The breakthrough of thread technology will not only increase the number of chips, but also reduce the cost of a single chip by more than 50%, making the competitiveness more prominent.

The sales volume and profit of the product and the breakthrough of capital investment and technology are complementary to each other.

According to the report just now, the output of chips in the Chua wafer factory is more than 1.5 million, the annual turnover is more than 4 million US dollars, and the gross profit margin is below 50%, but the net profit margin is about 30%, that is, there is a net profit of 1.2 million US dollars per year.

It's just because of Cai Junjie's relationship that this profit has just offset the workers' wages and Dr. Cai Junjie's R&D expenses!

Although 30% R&D investment is normal for wafer fabs in the integrated circuit industry, for a private enterprise, profit is the most critical.

This means that Cai Junjie is Cai Yaohua's nephew, otherwise how could he support him?

No wonder Cai Yaohua can't bear it!

It's just that Cai Zhenhua is worried about the future of his nephew and the future of the factory, and Cai Yaohua only shouted the purchase price of $2 million and the debt of $1.5 million.

This factory is coming!

Including Cai Junjie, this person also wants it, and he must not let him go!

"Manager Qu, Manager Jiang, I don't have any opinion on this investigation report. ”

"Manager Jiang, Mr. Yu, then you talk, my task is completed, if there is anything that needs our company's cooperation in the future, you can contact us, I am very willing to serve you!"

"Okay, Manager Qu, happy cooperation!"

……

"Since the due diligence report shows that there is no problem, then we can continue to talk about the next step......" After Manager Qu left, Jiang Yuehua continued.

"Well, Manager Jiang continued. ”

"In terms of funds, our funding approval has been approved, with a limit of $900,000. According to the current requirement of Cai Zhenhua's down payment of $1.5 million, there is still a shortage of $600,000. ”

"I've already raised about 2.5 million Hong Kong dollars. ”

"That's just right...... By the way, Mr. Yu, this time our HSBC Bank provided relevant acquisition services and entrusted Xinli Consulting Company to carry out due diligence fees, a total of 198,000 Hong Kong dollars, this time also needs to be paid by Mr. Yu!"

"No problem, this is as it should be!" Although Yu Zixian said this, he was actually dripping blood in his heart!

I borrowed it myself, but I still have to pay for it.

I can't pay it, when I dig you back, it's all worth it!

Beautiful!

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