On September 11th, Jinan Silicon-Based Vision Technology Partnership Enterprise (referred to as "Silicon-Based Vision") was established with a total capital contribution of 2.83 billion yuan, jointly funded by Weifang-based private enterprise Goertek Group Co., Ltd. (referred to as "Goertek Group") and Jinan Smart Display Industry Investment Development Partnership Enterprise (referred to as "Jinan Smart Display"), which has Jinan state-owned assets background.
In terms of equity structure, Goertek Group has committed 1.43 billion yuan in capital contribution with 520 million yuan actually paid, making it the major shareholder of Silicon-Based Vision with a 50.53% stake. Jinan Smart Display has committed 1.4 billion yuan with 1 billion yuan actually paid, serving as the second-largest shareholder with a 49.47% stake.
According to available information, Goertek Group is the controlling shareholder of Goertek Inc. (002241.SZ), which is primarily engaged in the research, development, manufacturing and sales of acoustic, optical and electronic precision components and precision structural parts, smart devices, and high-end equipment.
Jinan Smart Display was established on September 10th with a capital of 1.4 billion yuan, jointly funded by Jinan Guangyao Industry Investment Development Partnership Enterprise (referred to as "Jinan Guangyao"), Jinan Municipal Finance Investment Fund Holding Group Co., Ltd. (referred to as "Jinan Finance Investment"), Jinan Industrial Control Capital Co., Ltd. (referred to as "Industrial Control Capital"), and Jinan Finance Collaborative Industry Investment Co., Ltd. (referred to as "Jinan Finance Collaborative").
Among these, Jinan Guangyao holds a 35% stake with a committed capital of 700 million yuan, jointly funded by Jinan Renxin Investment Development Partnership Enterprise (Limited Partnership), Shandong Comprehensive Bonded Electronic Technology Co., Ltd., and Jinan High-tech Capital Investment Co., Ltd. Both Jinan Finance Investment and Industrial Control Capital hold 22.5% stakes each, with committed capital of 315 million yuan. Jinan Finance Collaborative holds a 20% stake with committed capital of 280 million yuan.
Through equity penetration analysis, both Jinan Finance Investment and Jinan Finance Collaborative are wholly-owned subsidiaries of Jinan Finance Investment Holding Group Co., Ltd. (referred to as "Jinan Finance Group"), while Industrial Control Capital is a wholly-owned subsidiary of Jinan Industrial Investment Holding Group Co., Ltd. (referred to as "Jinan Industrial Control Group").
Apart from the relatively clear shareholder structure, there is currently limited public information available regarding the purpose of the partnership establishment between Goertek Group and Jinan state-owned assets.
It is noted that Goertek Group Chairman Jiang Bin had contact with Jinan last November. In November last year, the founding conference and first member assembly of Shandong Integrated Circuit Industry Association was held at the Kempinski Hotel. At this meeting, Jiang Bin was elected as the first chairman of the association and jointly unveiled the association with Liu Qiang, Party Secretary of Jinan Municipal Committee.
After the meeting, Yu Haitian, Deputy Party Secretary and Mayor of Jinan, met with relevant guests and representatives of council member units. He stated that establishing the integrated circuit industry association was a key initiative by Shandong Province and Jinan City to build an industry exchange platform and promote the development of the integrated circuit industry. He hoped that the association would fully play its role as a bridge and link, focus on enterprise supply and demand, serve industry development, and act as an "assistant" for government decision-making, a "promoter" for industry development, and a "helper" for enterprise growth, jointly building industrial ecological chains and value chains to promote healthy, orderly, and high-quality development of the integrated circuit industry.
Jiang Bin expressed that currently, the province and city attach great importance to the development of the integrated circuit industry, and the integrated circuit industry has entered an important strategic opportunity period. As the first chairman of the association, he will conscientiously fulfill his responsibilities, fully play his role, and actively promote mutual assistance and deep cooperation among upstream and downstream member enterprises to boost high-quality industry development.
Comments