There are three parts to the silicon plate assets that have been stripped of new materials: one is the entire assets of the silicon plate directly held by Yanken New Materials; the other is the 69.57% stake in Cathay Corporation, which is owned by Yandian New Materials; the third is the wholly-owned subsidiary country. The company holds a 30.43% stake in Cathay Corporation.
After the completion of this restructuring, the assets, liabilities and business of the silicon sector will be stripped out of the listed company.
Before and after the completion of the reorganization, the Institute of Research and Development is the controlling shareholder of the research and development of new materials, and the State-owned Assets Supervision and Administration Commission of the State Council is the actual controller of the new materials. Therefore, this restructuring will not lead to changes in the control of new materials and does not constitute a backdoor listing. This restructuring does not arrange for matching financing, and does not involve the issue of shares.
After the reorganization, the company will concentrate on developing more advanced functional materials such as rare earth materials, high purity/ultra-high purity metal materials and photovoltaic materials. At the same time, the cash from the transaction also provides financial support for the company's future development in the field of new materials.
Prior to this reorganization, the business scope of researching new materials mainly included four major sectors: semiconductor silicon materials, rare earth materials, photovoltaic materials, and high-purity/ultra-high-purity metal materials. Among them, due to the development of China's semiconductor silicon material industry lags behind the international industry, in the current market downturn and poor industry profitability, the semiconductor silicon material industry sector has long-term operational pressure, weak profitability, long-term operation will be The competitiveness and sustainability of listed companies have had a significant negative impact, with significant losses in 2012 and the first half of 2014.
On the contrary, the three business sectors injected at the beginning of 2014, the research rare earth is the earliest unit engaged in rare earth research and research and development in China. The 60% production of rare earth in China uses the research and development process of rare earth. The company has also maintained the leading edge of rare earth technology. The bonded magnetic powder project and the LED phosphor expansion project will be the main growth point of the company's profit in the short term.
The main products of Yanyijin are high-purity metal targets, medical supports, precious metal materials and compounds. A variety of metal targets are gradually occupying the domestic market and entering the international market. The main products of Research Optoelectronics are crystalline materials and fiber materials, and are the world's leading manufacturer of horizontal GaAs single crystals. There are nearly 100 research projects of national projects and high-tech materials and new products, and research and development and technical processes are among the best in China.
With the synergy effect of the three business segments, the company has become the leading company in the new material industry with leading technology in China. Based on the research and development advantages in the field of new materials, it will gain great potential in the development of new materials. This restructuring is more conducive to the development of new materials to optimize assets and business structure, improve performance levels, to ensure that the company concentrates on the development of competitive areas of this major asset restructuring, the company sells semiconductor silicon materials business in a loss state, able to Effectively reducing the company's operating burden and improving the company's profitability will help listed companies optimize their assets and business structure. At the same time, through this restructuring, the company can obtain more funds, which is conducive to the listed companies to concentrate their superior resources, and provide more abundant financial guarantee for the further development of listed companies in the field of new materials in the future.
For this restructuring, the market generally believes that it is a major positive, which is conducive to the placement of new materials and light-loading, which will have a positive impact on the company's 2014 annual and future operating results.
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