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拟分拆子公司赴港上市 歌尔股份:进一步加深与国际客户的长期合作|速读公告

goertek inc. plans to spin off its subsidiary for listing in Hong Kong, further deepening its long-term cooperation with international customers.| Speed read announcement

cls.cn ·  Sep 13 11:11

Goertek Inc. announced that it plans to split Goertek Micro and list it on the main board of the Hong Kong Stock Exchange. Goertek Micro had planned to go public on the Growth Enterprise Market (GEM) in 2021, but the plan was terminated in May of this year. Goertek Inc. stated that the listing of Goertek Micro in Hong Kong is a cautious decision made after comprehensive consideration, and it will have a beneficial interaction with the business of Goertek Inc. in the future.

On the evening of September 13, Fuli Tech Finance News (Reporter Wang Biwei) announced that after the shelving of the IPO on the Growth Enterprise Market (GEM) in May this year, Goertek Inc. (002241.SZ), a leading company in the fruit supply chain, announced its intention to spin off its subsidiary, Goertek Microelectronics Co., Ltd. (referred to as 'Goertek Micro'), and list it on the main board of the Hong Kong Stock Exchange. Goertek Micro is about to embark on its second attempt to go public.

Goertek Inc. stated that after the spin-off is completed, there will be no significant changes in the company's equity structure, and it will continue to maintain control over Goertek Micro. According to data from Tianyancha, Goertek Inc. currently holds 85.8988% of the equity of Goertek Micro, Qingdao Microelectronics Innovation Center Co., Ltd. holds 2.6624% of the equity, and Song Qinglin and Jiang Long each hold 1.8468% of the equity.

Goertek Micro originated from the MEMS research and development team formed by Goertek Inc. in 2004. The company's main business is the research, development, production, and sales of MEMS devices and microsystem modules. Since 2017, Goertek Micro has been established as a wholly-owned subsidiary operating independently. From 2021 to 2023, the company's revenue was 3.348 billion yuan, 3.125 billion yuan, and 3.015 billion yuan, respectively.

According to Goertek Inc., the semiconductor industry and business characteristics in which Goertek Micro operates are significantly different from other businesses of Goertek Inc. After its independent listing, Goertek Inc. will be able to focus more on resources and increase investment in precision zero components such as optics, acoustics, microdisplays, as well as metaverse (VR/MR/AR/smart glasses), smart clothing, smart headphones, and other smart hardware fields, and have a beneficial interaction with Goertek Micro's MEMS sensor and microsystem module business.

After this spin-off and listing, Goertek Inc. and Goertek Micro will play important roles in the global AI+ terminal industry chain, further deepen long-term differentiated cooperation with international premium customers, and enhance customer service stickiness and influence.

It is worth noting that this is not the first time that Goertek Micro has attempted to go public. On December 28, 2021, Goertek Micro submitted an application for listing on the Growth Enterprise Market (GEM) of the Shenzhen Stock Exchange. In October 2022, it passed the review of the listing committee, but the company did not submit the registration papers. It was not until May 27, 2024, that Goertek Micro officially terminated the IPO application.

In recent years, the policy for spin-off listings has become stricter. In April of this year, the new 'Nine Articles of the Nation' clearly stated the need for 'strict supervision of spin-off listings'. Since then, many spin-off listing plans, including Goertek Micro, have been announced to be terminated.

The guidance of policies is the obvious motivation for listing in Hong Kong. Goertek Inc. told Caixin reporter: "Listing in Hong Kong is a response by the company to the policy of the country supporting leading industry enterprises that meet the conditions to list in Hong Kong. After comprehensive consideration of the mainland capital market environment and Goertek's future development plans, we made a prudent decision."

In April 2024, the China Securities Regulatory Commission issued 5 measures for the cooperation between capital markets and Hong Kong, which will further enhance communication and coordination with relevant departments and support mainland leading industry enterprises that meet the conditions to list in Hong Kong for financing. On April 19th, the Securities Regulatory Commission issued the "Sixteen Measures to Promote the High-level Development of Capital Market Services for Technology Enterprises", proposing to support technology companies to go public overseas in accordance with laws and regulations, implement the overseas listing filing management system, and better support their financing and development.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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