The continuous rise of mergers and acquisitions in the semiconductor field is conducive to the high-quality development of the industry

2024-09-23

On September 21st, A-share listed companies Bomin Electronics and Debon Technology successively released merger and acquisition asset announcements. Among them, Bomin Electronics plans to acquire 87% equity of Benchuang Electronics, a printed circuit board company, for no more than 250 million yuan; Debon Technology plans to acquire a 53% stake in Huawei, a semiconductor and integrated circuit packaging materials company. Since the beginning of this year, several listed companies in the semiconductor industry, including Xidi Microelectronics, Fuchuang Precision, Xinlian Integration, and Naxin Microelectronics, have successively disclosed their intentions or progress announcements regarding mergers and acquisitions. Yang Delong, Chief Economist of Qianhai Open Source Fund, said that frequent mergers and acquisitions in the semiconductor industry mean that listed companies are expected to achieve outward expansion through mergers and acquisitions, expand and strengthen their main business, and further enhance their core competitiveness. From the perspective of industrial development, mergers and acquisitions in the "hard technology" field will promote the integration of the industrial chain, enhance industry concentration, and promote the development of advanced technologies. Bomin Electronics stated that the target company of this acquisition, Benchuang Electronics, is a company with strong comprehensive strength in HDI technology and production capacity in Meizhou. It is closely related to the company's main business and can effectively compensate for the structural capacity bottleneck of the company during the HDI peak season. Moreover, the acquisition of Benchuang Electronics will help the company reduce the outsourcing service procurement process in some product production. If this acquisition is completed, Bomin Electronics will hold 100% equity of Benchuang Electronics. Debon Technology stated that Hengsuo Huawei's main product is epoxy plastic sealing material, with 12 production lines, providing specialized products and services for enterprises such as Infineon and Tongfu Microelectronics. According to PRISMARK statistics, in 2023, Hengshuo Huawei ranked third in sales among global epoxy plastic sealing material enterprises, fourth in sales, and first in sales and sales among domestic epoxy plastic sealing material enterprises. This acquisition will help improve the company's product plan and expand its business areas, opening up new growth points for the company. At the same time, by integrating the resource advantages of both parties in terms of market, customers, technology, and products, a synergistic effect will be formed, which is conducive to promoting the sustainable development of the company. In addition, cases such as the acquisition of 30.91% equity in South Korean listed company Zinitix by analog chip company Xidiwei are also planned by semiconductor listed companies based on their strategic positioning, expanding their product categories, broadening customers, and achieving technological complementarity through mergers and acquisitions. Yang Delong stated that a clear characteristic of mergers and acquisitions in the semiconductor industry is that they mostly revolve around the upstream and downstream of the industry chain. Enterprises introduce advanced technology through mergers and acquisitions, enhance supply chain stability, reduce costs, and achieve integration of the upstream and downstream of the industrial chain. In April of this year, the State Council issued the "Several Opinions on Strengthening Supervision, Preventing Risks, and Promoting High quality Development of the Capital Market", which encouraged listed companies to focus on their main businesses and comprehensively use methods such as mergers and acquisitions, equity incentives, etc. to improve the quality of development; The "Sixteen Measures for Capital Market Services for High level Development of Technology Enterprises" formulated by the China Securities Regulatory Commission proposes to promote the efficient implementation of mergers and acquisitions by technology-based enterprises. Continuously deepen the market-oriented reform of mergers and acquisitions, formulate rules for targeted convertible bond restructuring, optimize the small-scale rapid review mechanism, appropriately improve the inclusiveness of valuation for light asset technology-based enterprises, support technology-based enterprises to comprehensively use various payment tools such as shares, targeted convertible bonds, cash, etc. to carry out restructuring, and help technology-based enterprises improve quality and efficiency, become better and stronger. Guo Tao, Deputy Director of China E-commerce Expert Service Center and Senior Artificial Intelligence Expert, stated that mergers and acquisitions in the semiconductor field in the A-share market continue to heat up, thanks to the joint promotion of policies and the market. On the one hand, policy support provides a favorable environment for mergers and acquisitions; On the other hand, the valuation correction of enterprises and the recovery of the semiconductor industry have prompted a group of companies to choose to acquire assets for further development. (New Society)

Edit:Lubaikang    Responsible editor:Chenze

Source:epaper.zqrb.cn

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