"Dong Xiao, of course we won't put all the pressure on the enterprise for such a big project.In this way, on behalf of the city, I will make a statement that we will contribute at least 12 billion yuan this time. ”When Xiao Bai met the competent leader of the city as promised, the other party was not verbose and gave a clear answer directly.Rongcheng promised to invest 12 billion yuan in the project.Xiao Bai didn't say anything right away, he silently calculated in his heart.At present, the self-owned funds that Times Optoelectronics (Holdings) Company can raise are about 26 billion yuan, plus the capital contribution promised by Rongcheng, and the gap of construction funds is about 10 billion yuan.That's not a big deal."
Leaders, thank you for your strong support.Our department has closely linked its own development with you, and there will be more cooperation in the future. ”Xiao Bai said a few beautiful words, and agreed in principle to the amount of capital contributed by Rongcheng.In the conference room, several local supervisors and leaders were there.When they heard Xiao Bai's statement, they couldn't help but secretly breathe a sigh of relief.To be honest, this amount of funds is already their maximum capacity at present.Midday.Several leaders didn't let Xiao Bai go, and insisted on pulling him to have a meal together.Xiao Bai pushed the boat down the river and contacted the other party for a while.It doesn't matter what you eat, the key is that both sides have the willingness to have in-depth exchanges and cooperation.Afternoon.Xiao Bai returned to Huanhuaxi Villa.Tian Chunxiu had already gone to the mountain city, and at the same time took the two little guys away, and the house suddenly seemed too quiet."
Mr.
You, how is the situation over there in the mountain city?"
Xiao Bai went home and rested for a while, then made a pot of tea and sat in the study to make a phone call to Juvinson.He first informed the other party of several principles agreed with Rongcheng, and then asked about Juvinson's situation in the mountain city."
Dong Xiao, the situation on my side is very good.Shancheng has initially promised to invest 16 billion yuan, but some details are still being discussed, and it is estimated that an agreement will be reached soon. ”Juvinson said that Shancheng attaches great importance to the 6th generation (flexible) LTPS\AMOLED production line project, and the conditions given are also very sincere."
Well, then you strike while the iron is hot and finalize the agreement with the mountain city.Rongcheng will rearrange a negotiation team to come over and complete the follow-up work as soon as possible. ”Xiao Bai is very satisfied with Juwenson's work efficiency, and the other party is worthy of being an expert negotiator in the Department of the Times.Xiao Bai didn't plan to go to Shancheng for the time being, and after the negotiation team came, he would sit in Rongcheng, and then choose the opportunity to sign the agreement with the local area.The next day.Xiao Bai called Shang Liancheng and Mu Ziyuan respectively, and the funding gap for the 6th generation (flexible) LTPS\AMOLED production line project in Rongcheng was filled by Times Technology Group, and the specific operation was in the form of issuing bonds."
Mr.
Shang, this time Times Optoelectronics (Holdings) Company can issue 10 billion yuan of ordinary bonds, I have already said hello to Mr.
Mu, and Times Technology Group will subscribe in full."
Xiao Bai did not intend to change the shareholding structure of Times Optoelectronics (Holdings) Company, so he asked Shang Liancheng to issue ordinary corporate bonds instead of convertible bonds.The profitability of Times Optoelectronics (Holdings) Company is acceptable, and the assets under the company's name are not much, but they are all high-generation production lines.It is estimated that it will not take too long for the holding company to repay the 10 billion yuan bond.Therefore, this time the bonds issued by the company are short-term bonds with a maturity of less than one year."
Okay, Dong Xiao, I'll go to Mr.
Mu immediately."
Shang Liancheng comprehended, and after hanging up the phone, he went to find Mu Ziyuan.The funding gap for the Rongcheng project has been completely filled, and he is finally relieved.Xiao Bai stayed in Rongcheng for a few more days, and the negotiation team and Rongcheng reached an agreement.Rongcheng 6th generation (flexible) LTPS\AMOLED project, with a total investment of 46.5 billion yuan.Among them, Times Optoelectronics (Holdings) Company invested 33.5 billion yuan, and Rongcheng invested 13 billion yuan.The equity ratio of the two parties is 83% of the shares of Times Optoelectronics (Holdings) Company and 17% of the shares of Rongcheng.Shang Liancheng specially rushed over from Shencheng to attend the signing ceremony, and this big project was immediately implemented.Of course, there is still the problem of project declaration in the follow-up, which does not need to be worried about by the company, and Rongcheng will come forward to solve it.As a leader in domestic display devices, the project declared by Times Optoelectronics has always been a green light, and the project application was quickly approved."
Mr.
Shang, you and I will go to the mountain city.Mr.
You has already negotiated the conditions with Shancheng over there, and the other party promised to provide 16 billion yuan of financial support. ”The Rongcheng project was handed over to Chen Yisheng, and the other party was responsible for overall management.Shang Liancheng and Xiao Bai set off for Shancheng and signed a project investment agreement with the local area.The total investment of Shancheng 6th generation (flexible) LTPS\AMOLED project is 46.5 billion yuan, and Times Optoelectronics (Holdings) Co., Ltd. invested 30.5 billion yuan, accounting for 77% of the shares.Shancheng invested 16 billion yuan, accounting for 23% of the shares."
Xiao Dong, at present, Times Optoelectronics Co., Ltd. has self-raised funds of 17.5 billion yuan.There is still a funding gap of 13 billion yuan for the project. ”After the signing of the contract was completed, Yamashiro was responsible for the project declaration.Xiao Bai, Juwenson, and Shang Liancheng returned to Shencheng.Up to now, the additional issuance of Times Optoelectronics Co., Ltd. is still in the process of being handled.However, after the project application is approved, the project can start on time, and the funding gap can be filled as soon as possible."
Mr.
Cui also called just now, and the Stock Exchange has already agreed to the company's refinancing application.However, there is a condition on the exchange, and the shares subscribed by the company's affiliated major shareholders shall not be less than 30% of the total amount of additional shares issued in this round of financing. ”When Xiao Bai said this, he was also a little helpless.The condition of the exchange is not excessive, but at present, Times Optoelectronics as a whole is short of funds, if it is dealt with in accordance with this charter, Times Optoelectronics (Holdings) Company has to prepare a sum of funds."
So, we can't do private placement?"
When Shang Liancheng heard Xiao Bai say this, he felt a little difficult in his heart.The total investment of the two projects of Times Optoelectronics is close to 100 billion yuan, how can there be spare time to participate in the additional issuance of the secondary market?"
Of course, private placement is possible, but this condition will not change.Mr.
Shang, the holding company tried to make up again, but it was really impossible to go to the bank to borrow a working capital loan. ”Xiao Bai's meaning is to let Shang Liancheng transfer all the funds of the holding company, including liquidity, to participate in this round of additional issuance.Enterprises will definitely not be able to do without liquidity, and it will be difficult to continue without production, so they can only find ways to borrow from banks."
Well, then I'll figure it out."
Shang Liancheng understood that Xiao Bai did not want to change the shareholding structure of the holding company for the time being, and it was not a matter to always let Xiao Bai have a blood transfusion.Therefore, loans are also a way to go.Times Optoelectronics (Holdings) Company has no big problem if it wants to take out a loan, and a bank structure has given the company a credit line of 3 billion yuan, and it can go through the loan procedures at any time.Shang Liancheng then let the financial department carefully calculate, the company previously issued 10 billion yuan of corporate bonds, excluding the project investment and the remaining 2.5 billion yuan.If you embezzle some of the working capital, it's no problem to make up enough 6 billion yuan.So, he asked the finance department to negotiate with the bank and apply for a working capital loan of 2 billion yuan.The bank was very happy, and the loan process was completed in a few days, and the loan funds of 2 billion yuan arrived immediately.The additional issuance plan of the Stock Exchange was also approved immediately, and Times Optoelectronics adopted a private placement in this round of additional issuance, issuing 1 billion shares to no more than 30 institutions at an issue price of HK$24 per share.The company's total share capital is 6.76 billion shares after the last share allotment, of which Times Optoelectronics (Holdings) Co., Ltd. accounts for 30.77%, making it the company's largest shareholder.Times Technology Group holds 9.62% of the shares and is the second largest shareholder of the company.After the completion of this round of additional issuance, the company's total share capital became 7.76 billion shares.Among them, Times Optoelectronics (Holdings) Co., Ltd. subscribed for 250 million additional shares in this round, accounting for 30.03% of the shares, and is the company's largest shareholder.Times Technology Group subscribed for 50 million additional shares in this round, accounting for 9.02% of the shares, making it the second largest shareholder of the company.In this round of additional issuance, Times Optoelectronics (Holdings) Co., Ltd. invested a total of HK $6 billion, and Times Technology Group invested a total of HK $1.2 billion.Times Optoelectronics Co., Ltd. raised a total of 24 billion Hong Kong dollars, and was once again rated as one of the top ten companies with the most money-making by the market.In the face of public opinion, Shang Liancheng made a routine response, and then rushed to the mountain city.Shancheng 6th generation (flexible) LTPS\AMOLED production line project has been approved, and the construction of the project will start immediately.Xiao Bai sits in Shencheng and always pays attention to the price trend of LCD products.At present, driven by South Korean companies such as S Star, the price of small and medium-sized LCD panels is falling rapidly, and the average price has fallen by more than 20% in just a few months.Whether it is Times Optoelectronics Co., Ltd. or Times Optoelectronics (Holdings) Company, the performance has been affected to varying degrees.Among them, the performance of listed companies has a greater impact, and the holding company is less affected.Overall, the two companies are not losing money.Because while the small and medium-sized LCD panels have fallen sharply, the prices of large-size LCD panels, as well as Oxide\LCD and LTPS\LCD panels, are relatively strong.In particular, the Oxide\LCD and LTPS\LCD panels, which have a more prominent display effect, have hardly been affected by this price war.As for OLED panels, the current application on the market is not widespread, the overall production capacity is limited, and the price rising against the trend does not say anything.However, some other LCD panel companies with insufficient technology and scale are not large enough, such as the remaining companies on the island and Jinling PADA Electronics Group, are having a hard time.The technical level of Dongfang Technology is not bad, and the company's new high-generation LCD panel production lines have saved Wang Bin, making the company struggle on the loss line and not completely fall into the quagmire."
Xiao Dong, this is the latest issue of the compilation of business information."
Xiao Bai used to sit in the office in the morning to deal with official business, and the secretary sent a freshly baked compilation of business information.He took it casually and flipped through it, and noticed that half of the compilation of business information in this issue was devoted to the introduction of various panel companies.