Investing in the third-generation semiconductor-related fields, Sai Microelectronics plans to increase the capital of Archimedes by 6.5 million yuan
On the evening of October 29, Saiwei Electronics announced that the company and other investors planned to increase the capital of Archimedes at a cost of 277 million yuan, of which Saiwei Electronics planned to use its own funds of RMB 6.5 million to invest in Archimedes. Capital increase, accounting for 0.70% of the registered capital of Archimedes after the capital increase. After the capital increase is completed, Archimedes will become a shareholding subsidiary of Sai Microelectronics.
According to the announcement, according to the terms and conditions of this agreement, the investor’s pre-investment valuation for this capital increase in Archimedes is RMB 650 million, and the investor subscribes for Archimedes at a total price of RMB 277 million. 5.546 million yuan newly increased registered capital. The subscription price under this agreement will be mainly used for R&D investment, market expansion, construction of SiC/IGBT power device and module production lines in Hefei High-tech Zone, Archimedes working capital, etc.
After the completion of this capital increase, Archimedes’ shareholding structure is as follows:
According to the announcement, Archimedes was established in Hefei, Anhui Province in June 2021. Its business mainly covers the packaging and testing of SiC (silicon carbide) and IGBT (insulated gate bipolar transistors), and chip design. The products are mainly used in New energy vehicle and photovoltaic industry, focusing on the application of power semiconductors in the field of new energy. Archimedes is currently in the early stages of establishment and operation.
For the purpose of this investment, Sai Microelectronics pointed out that the company takes the semiconductor business as the core and faces the era of Internet of Things and artificial intelligence under the background of high-frequency communication. The GaN material and device business is committed to becoming a well-known semiconductor technology enterprise group based on local and international development. The purpose of this investment is to increase investment in third-generation semiconductor-related fields, combine industrial resources, and promote business cooperation.
In addition, Saiwei Electronics said that this investment is planned to be invested with its own funds. The investment amount is small and will not have a great impact on the company’s cash utilization efficiency, financial and operating conditions.