Worth reading
54Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
—
Direction inferred from the company’s description.Scale
15
CNY 100 millionWording
Conditional
How definitive the wording is.This transaction
CRSM third-party allotmentCounterparty合肥建投富楽徳長江株式投資基金有限責任組合（合肥国投専用基金）, 嘉興君茁株式投資有限責任組合（君茁股権基金）, 国創啓程（上海）起業投資ファンド有限責任組合（国投招商①）, 先進製造産業投資基金（湖北）有限責任組合（国投招商②）, 安徽新至壹号産業投資有限責任組合（安徽新至壹号）, 上海浦東スマート製造第2期私募投資基金有限責任組合（上海金橋基金）, 合肥晶匯聚芯投資基金有限責任組合（合肥晶汇）, 安徽国元産業転型昇級投資基金有限責任組合（国元基金）, 上海尚頎尚成二号私募投資基金有限責任組合（尚頎資本）, 蘇州東証睿景起業投資有限責任組合（蘇州東証睿景）, 銅陵市義安区弘創私募株式投資基金有限責任組合（銅陵義安区基金）, 共青城天興誠芯創業投資有限責任組合（天興誠芯基金）, 嘉興臨順株式投資有限責任組合（嘉興臨順基金）
Disclosing companyFerrotec Corporation
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
Execution Date / Effective DateJune 2026 (予定)
Target company
Wafer recycling and related businesses
Location 義安区, 銅陵市, 安徽省Share capital CNY 1.2201 billion (approximately ¥28.9 billion)Date of incorporation 6 September 2019
Net Sales¥4,879 million (fiscal year ending March 2026)
Operating profitOperating loss of ¥493 million (fiscal year ending March 2026)
Net income for the current fiscal yearNet loss of ¥140 million (fiscal year ending March 2026)
Net assets¥16,660 million (fiscal year ending March 2026)
Consideration and expenses
Type of ConsiderationCash
Impact on Business Performance
The impact on the Company's earnings is expected to be minor.
Procedures and assumptions
Valuation methodologyCalculation of the fair value of the shares by an independent third-party valuation institution that is independent of the Company and the allottees
Management structure after acquisitionCRSM is scheduled to change from a consolidated subsidiary to an equity-method affiliate. Other management arrangements, the corporate name and employee treatment: not disclosed
| Item | Details |
|---|---|
| Transaction name | CRSM third-party allotment |
| Counterparty name | 合肥建投富楽徳長江株式投資基金有限責任組合（合肥国投専用基金）, 嘉興君茁株式投資有限責任組合（君茁股権基金）, 国創啓程（上海）起業投資ファンド有限責任組合（国投招商①）, 先進製造産業投資基金（湖北）有限責任組合（国投招商②）, 安徽新至壹号産業投資有限責任組合（安徽新至壹号）, 上海浦東スマート製造第2期私募投資基金有限責任組合（上海金橋基金）, 合肥晶匯聚芯投資基金有限責任組合（合肥晶汇）, 安徽国元産業転型昇級投資基金有限責任組合（国元基金）, 上海尚頎尚成二号私募投資基金有限責任組合（尚頎資本）, 蘇州東証睿景起業投資有限責任組合（蘇州東証睿景）, 銅陵市義安区弘創私募株式投資基金有限責任組合（銅陵義安区基金）, 共青城天興誠芯創業投資有限責任組合（天興誠芯基金）, 嘉興臨順株式投資有限責任組合（嘉興臨順基金） |
| Name of the Subject Company | 安徽富楽徳長江半導体材料股份有限公司（CRSM） |
| Business Description of the Subject Company | Wafer recycling and related businesses |
| Location of the Subject Company | 義安区, 銅陵市, 安徽省 |
| Capital Stock of the Subject Company | CNY 1.2201 billion (approximately ¥28.9 billion) |
| Date of Establishment of the Subject Company | 6 September 2019 |
| Net Sales of the Subject Company | ¥4,879 million (fiscal year ending March 2026) |
| Operating Profit of the Subject Company | Operating loss of ¥493 million (fiscal year ending March 2026) |
| Net Income of the Subject Company | Net loss of ¥140 million (fiscal year ending March 2026) |
| Net Assets of the Subject Company | ¥16,660 million (fiscal year ending March 2026) |
| Type of Consideration | Cash |
| Voting rights ownership percentage | Before 40.65% → after 20.16% |
| Impact on Business Performance | The impact on the Company's earnings is expected to be minor. |
| Execution Date / Effective Date | June 2026 (予定) |
| Valuation methodology | Calculation of the fair value of the shares by an independent third-party valuation institution that is independent of the Company and the allottees |
| Management structure after acquisition | CRSM is scheduled to change from a consolidated subsidiary to an equity-method affiliate. Other management arrangements, the corporate name and employee treatment: not disclosed |
Items this document does not state (15)
Acquisition priceExpenses other than the acquisition priceMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Date of board resolutionContract DateIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The disclosure states that the capital increase amount was changed and the allottees were determined, but does not explicitly state the reasons for the changes.
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