Siu Chi change in the use of funds raised, 1 billion switched LED epitaxial chip

Yesterday (5) evening, Shenzhen zhaochi Limited by Share Ltd (hereinafter referred to as the "company" or "Siu Chi shares") issued a notice to change the use of proceeds, in order to improve the efficiency and effectiveness of the use of funds, to reduce the "build including video, games, health, education, business, content cloud platform" to raise 1 billion yuan of funds, and put into the new project "LED epitaxial chip production project". The proposed changes to the project involved the total amount of 1 billion yuan, accounting for 39.03% of the net proceeds.

The adjusted investment projects to raise funds

According to the announcement, Siu Chi shares to a specific non-public offering of RMB ordinary shares (A shares) 209 million 346 thousand and 909 shares, issue price of 12.28 yuan per share, raising funds totaling 2570780042 yuan, net of issuance costs 8760736.51 yuan, net proceeds of 2562019305.49 yuan, for the Internet TV business joint operating the project, including the project construction build intelligent super TV hardware platform, including building video / game / medical / education / content providers, cloud platform and build its own brand sales platform full channel coverage.

As of August 31, 2017, the Internet TV business joint operation project has to raise funds invested 443 million 97 thousand and 500 yuan, the project schedule is 17.29%. The "building including video, games, health, education, business, content cloud platform" has to raise funds invested 303 thousand and 400 yuan, the remaining 1 billion 151 million 315 thousand and 800 yuan to raise funds, the platform has been given by a subsidiary of Beijing popular online Technology Co. Ltd. (hereinafter referred to as "popular online") with its own funds to invest in construction, so the platform to reduce to raise the scale of capital investment.

LED epitaxial chip production project is expected to total investment of 4 billion 649 million 820 thousand yuan, including fixed assets and equipment purchase costs 4 billion 320 million 750 thousand yuan. This project is calculated for a period of 12 years, the construction period is 1 years (excluding the subsequent expansion period), operating for a period of 11 years, first years is expected to operate for a period of production (September 30, 2018). As of September 5th, the production of LED epitaxial chip project has received a number of Nanchang hi tech Industrial Development Zone Management Committee issued by the Hong hi tech pipe No. [2017]264 built the word "agreed on Jiangxi Siu Chi semiconductor limited company with an annual output of 3 million 600 thousand pieces of 4 inch LED wafer and chip production project (a) filing notice" of the project; the ongoing environmental impact assessment.

The basic situation of the LED epitaxial chip production project

Siu Chi shares said that with the expansion of LED packaging and lighting applications business scale, usage of the LED chip company increased sharply. The chip has become an important factor restricting the company packaging and application of lighting business development, and constantly improve the industry concentration, the whole industry chain gradually showing the trend of vertical integration. To become the world's leading LED enterprise as the goal, the introduction of professional team, advanced equipment and abundant manufacturing experience, in the design, manufacturing and sales of Nanchang investment in the construction of LED epitaxial chip, the core technology is to create the master chip, LED chip, encapsulation, application field of lighting the whole industry chain layout, synergies, enhance overall competitiveness, to boost the company's rapid LED industry international market, participate in international competition.

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