Jingsheng to Launch Solar Wafer and Semiconductor Projects by 5.7 Billion Yuan Financing

PVTIME – Zhejiang Jingsheng Mechanical & Electrical Co., Ltd. (300316.SZ)(hereinafter referred to as Jingsheng or the Company) issued an announcement on January 6,that the company intends to launch three projects involve solar wafer and semiconductor by about 5.7 billion yuan financing.

Jingsheng plans to issue no more than 257.3 million shares this time, and the total amount of funds raised will not exceed 5.7 billion yuan. Among them, 1.57 billion yuan will be used to supplement working capital, and 4.13 billion yuan for three new projects.

The total investment of the Silicon Carbide Substrate Wafer Production Base Project is 3.36 billion yuan, and the use of fundraising is 3.1342 billion yuan. Upon completion, the new sales revenue will be 2.356 billion yuan every year, the average annual profit will be 588 million yuan, and the gross profit rate can reach 31.8%.

The total investment of the 12-Inch Integrated Circuit Large Silicon Wafer Equipment Test Line Project is 750 million yuan, and it is planned to use 563.7 million yuan to raise funds.

The Annual Production of 80 Sets of Semiconductor Material Polishing and Thinning Equipment Manufacturing Project plans a total investment of 500 million yuan, and the use of fundraising is 432.1 million yuan. After the project is put into production, the annual new sales revenue will be 623 million yuan, and the total annual average profit will be 165 million yuan.

Due to the development of new energy vehicles, smart grid, 5G communication, photovoltaic power generation, consumer electronics and other fields, the market demand for third-generation semiconductor materials is increasing in recent years, and it is significance for Jingsheng to develop third-generation semiconductor materials business.