Guoju announced yesterday (30) that it will acquire all the shares of Qilixin, an affiliated enterprise that originally held 11% of the shares, and the proportion of shares exchanged is 1 Qili new ordinary shares to exchange 0.2002 shares of Guoju ordinary shares, the premium rate is about 10%, tentatively scheduled december 30 as the benchmark date for share conversion, and the newly issued shares will be about 8.8% of the shares of the new company, which means that Guoju's share exchange will inflate the share capital by about 8.8%. After the completion of the merger, Guoju will be the surviving company, and Qilixin will go down the market.
Guoju and Qilixin both suspended trading yesterday because there was a major information to be released, and Chen Taiming, who is also the director of the two companies, presided over a press conference after the release of the major information to explain the comprehensive effect of the case. He stressed that after the new products of Qili are incorporated into the Guoju system, through the group's resources and global channels, the goal is to increase the revenue of Qili in the new year by 10% to 15%, and at the same time enter the high-end market, Guoju can also provide customers with one-stop purchase of passive components, which can be said to form a "win-win" situation.
Guoju and Qilixin passed the share conversion case by the board of directors yesterday, and Guoju intends to acquire 100% of the equity of Qilixin, exchange 0.2002 shares of Guoju ordinary shares for every 1 share of Qilixin common shares, and convert it with the closing prices of Guoju and Qilixin on June 29 of 555 yuan and 101 yuan respectively, and the premium for the share conversion is about 10.01%. The two parties expect to hold an extraordinary meeting of shareholders on September 7 to discuss the proposal, and after the approval of the relevant competent authorities and the completion of the share swap operation, December 30 is tentatively set as the basis date for the share conversion.
Chen Taiming said that after The new inclusion of Qili in Guoju, Qilixin accounts for about 15% of the revenue of the new Guoju Group, and the proportion of high-end products can be increased, and it is estimated that Qilixin's future revenue in the high-end market and product revenue can grow by 10% to 15%, And Qilixin Vietnam Phase III factory area continues to expand, Vietnam will be an important town for the production of inductive components, and the overall net profit per share of the new Guoju Group will grow.
Chen Taiming said that Guoju Group's Jimei has the production of magnetic materials, as an application in the car, this part and Qili's new products will be complementary, so Guoju will be able to provide customers with one-stop service, products from resistors, capacitors, multilayer ceramic capacitors (MLCC), tantalum capacitors, inductors and so on.
Chen Taiming analyzed that at present, the proportion of Qilixin shipments in Greater China is about 81%, and if it joins Taiwan, the total proportion is as high as 90%. Greater China is also a highly competitive price market, and there is a red supply chain competition, it is estimated that after Qili's new accession to the National Giant system, it will be able to have sales bases in 42 countries around the world through the National Giant Group, step into the high-end market, and optimistic about the expansion of the scale of operation.
From the perspective of market share of product lines, Guoju's existing product line chip resistance is the world's first, MLCC is the third in the world, and Qili new inductors currently account for the third place in the global market, ranking behind TDK and Murata, two Japanese companies. After the completion of the merger, Guoju will become the only group in the global passive component industry, with the three major product lines accounting for the top three.