Recently, Qingdao Regulatory Administration disclosed the registration of guidance filing of Gale Microelectronics Co., Ltd. (hereinafter referred to as: Gale Microelectronics), which was registered on April 29, 2021. Its guidance agency is CITIC Construction Investment Securities.
According to the data, Gale Microelectronics is the holding subsidiary of Gale Co., Ltd., which is mainly engaged in the design, manufacture and sales of MEMS microphones, MEMS sensors, microsystem modules and other related products, which are mainly used in smart phones, intelligent wireless headphones, wearable products, automotive electronics and other fields. According to the research report of international research institution Yole D é veloppement, Gore Microelectronics ranks ninth in the global MEMS industry enterprise income ranking in 2019, and is the only Chinese company to enter the top 10 in the world.
In November 2020, the board of directors of Gale shares agreed that the company's holding subsidiary, Gale Microelectronics, planned to spin off the listing, and authorized the company and its management to start the preliminary preparatory work for the listing of Gale Microelectronics.
Financial data show that from 2018 to 2020, Gale Microelectronics's business income was 1.8537696 billion yuan, 2.443075 billion yuan and 3.1943027 billion yuan respectively, with an average annual growth rate of more than 30%. In the same period, the net profit was 353.9298 million yuan, 316.8918 million yuan and 394.205 million yuan respectively, with a total net profit of more than 1 billion yuan in three years.
In March this year, Goyle Co., Ltd. announced that based on the future development strategy of Goyle Microelectronics Co., Ltd. (hereinafter referred to as "Gale Microelectronics"), in order to further promote the development of microelectronics-related business, Gale Microelectronics plans to increase capital and shares to introduce external investors.
GE shares agreed that GE'er Microelectronics and Qingdao Microelectronics Innovation Center Co., Ltd., Mr. Tang Wenbo, Gongqingcheng Chunlin Equity Investment Partnership (Limited Partnership), Qingdao Henghuitai Industrial Development Fund Co., Ltd., Gore Group Co., Ltd., Rongcheng Urban Construction Investment Development Co., Ltd., Shenzhen Link Foundation Equity Investment Fund Partnership (Limited Partnership), CITIC Construction Investment Co., Ltd., Beijing Chunlin Equity Investment Center (Limited Partnership), Shenzhen Eden Media Investment Fund Partnership (Limited Partnership), Jianyin International Capital Management (Tianjin) Co., Ltd., Zhongjin Qichen (Suzhou) emerging Industry Equity Investment Fund Partnership (Limited Partnership), CLP (Xiamen) Intelligent Industry Equity Investment Fund Partnership (Limited Partnership), Weifang Weirun Xin Heng New and Old momentum conversion Equity Investment Fund Partnership (Limited Partnership), Jianyin Kechuang (Suzhou) Joint Venture Equity Investment Fund (Limited Partnership) signed the Capital increase Agreement of Gale Microelectronics Co., Ltd. (hereinafter referred to as "Capital increase Agreement"), "shareholders Agreement of Gale Microelectronics Co., Ltd." (hereinafter referred to as "shareholder Agreement"), etc., This round of investors add a total of 2.149987749 billion yuan to Gale Microelectronics with their own funds or self-raised funds, of which 60.5801 million yuan is included in the new registered capital of Gale Microelectronics, and the rest is included in the capital reserve. This round of investors have acquired a total of 10.4075% of the equity after the capital increase and share expansion of Gale Microelectronics.
After the completion of this round of investment, Gore's stake in Gore Microelectronics was changed from 95.8773% to 85.8989%.
Citic Securities Research News pointed out that the listing of Gale shares spin-off Gale Microelectronics focused on MEMS and SIP business, through financing to give the business better resources and growth space. At the same time, the company encourages the core employees through equity and binds them to the interests of the development of the company. If the independent listing is successful in the future, it is expected to further promote the enthusiasm of the employees.
