Providing guarantees for 7 wholly-owned subsidiaries
The announcement shows that according to the overall development plan of Sanan Optoelectronics, in order to ensure the funding needs of wholly-owned subsidiaries, after study by the board of directors, it was agreed to provide guarantees for Xiamen Sanan (400 million yuan), Sanan Integrated (750 million yuan), Anhui Sanan (190 million yuan), Quanzhou Sanan ( 480 million yuan), Tianjin Sanan (420 million yuan), Hubei Sanan (100 million yuan) and Fujian Jing'an (100 million yuan) applied to financial institutions for a comprehensive credit line of 2.440 billion yuan to provide joint liability guarantees. The scope of the guarantee includes but is not limited to all principal, interest (including compound interest and penalty interest), liquidated damages, compensation, etc.
If all the guarantees provided this time are implemented, Sanan Optoelectronics will provide a total of RMB 590 million, RMB 1.78 billion, RMB 420 million, RMB 160 million and RMB 600 million in joint liability guarantees for Anhui Sanan, Quanzhou Sanan, Tianjin Sanan, Hubei Sanan and Fujian Jing'an respectively; it will provide a total of RMB 8.914 billion in joint liability guarantees for Xiamen Sanan and Sanan Integrated to apply for comprehensive credit from financial institutions and carry out financial leasing business.
1 billion yuan in capital increase in Hunan Sanan
In addition, in order to promote the business development of Hunan Sanan, after research by the board of directors, it was decided to increase the capital of Hunan Sanan with 1 billion yuan of its own monetary funds, and its registered capital increased from 2 billion yuan to 3 billion yuan.
Currently, Hunan Sanan dominates the SiC/GaN power electronics business in Sanan Optoelectronics' integrated circuit business, with SiC as the main business and GaN accounting for a smaller proportion. In the first half of the year, thanks to the strong demand in the SiC market, Hunan Sanan's overall performance maintained a growth trend, achieving revenue of 582 million yuan, a year-on-year increase of 178.86%; net profit was 332 million yuan, a year-on-year increase of 266.99%.
The indirect controlling shareholder has increased its shareholding by 0.04%
In addition to the above-mentioned resolutions, Sanan Optoelectronics also simultaneously disclosed the progress of the indirect controlling shareholder Sanan Group's shareholding increase.
It is understood that Sanan Optoelectronics announced on August 2 that Sanan Group plans to increase its stake in the company by 50 million to 100 million yuan. The increase plan will be implemented within 3 months from August 2. At present, the increase plan has not yet been completed.
According to the latest announcement, on August 14, Sanan Group increased its holdings of 1,886,000 shares of the company through the Shanghai Stock Exchange trading system, accounting for 0.04% of the total share capital of Sanan Optoelectronics, with a total amount of 31,200,604 yuan. The details are as follows:
This increase in shares held by Sanan Group is mainly based on confidence in the future development prospects of Sanan Optoelectronics.
It is understood that in the first half of this year, Sanan Optoelectronics achieved revenue of approximately 6.469 billion yuan, a year-on-year decrease of 4.33%; net profit attributable to shareholders of listed companies was 170 million yuan, a year-on-year decrease of 81.76%
In terms of business segments, the LED business achieved sales revenue of 4.947 billion yuan, a year-on-year decrease of 6.67%, but the integrated circuit business achieved sales revenue of 1.522 billion yuan, a year-on-year increase of 4.14%.
Although LED business performance has declined, Sanan Optoelectronics said that there are signs of improvement in the Q2 market conditions and the company's business. Some chip prices have begun to increase with the recovery of the overall domestic economy, and equipment utilization rates have also gradually improved. Subsequent LED performance is expected to rebound as the market improves.
Although integrated circuits currently account for a small proportion, they have strong growth momentum and are also the key development direction of Sanan Optoelectronics. In the first half of the year, in addition to revenue growth, the gross profit margin of the integrated circuit business also performed well. Thanks to the improvement in the gross profit margin of the SiC business, the GaAs RF and GaN RF businesses have progressed smoothly, and the overall gross profit margin of integrated circuits has increased by 7.75%.
In the future, with the gradual recovery of LED performance, as well as the further expansion of RF front-ends such as filters, VCSEL and other optical technologies, and SiC/GaN power electronics business, Sanan Optoelectronics' mid- to long-term performance growth is expected.
ANNA