en.Wedoany.com Reported - Advanced Micro-Fabrication Equipment Inc. China (AMEC) announced on July 7 that the supporting financing phase for its acquisition of a controlling stake in Hangzhou Zhonggui has been formally completed, with independent financial advisor CITIC Securities issuing an implementation review opinion on the supporting fundraising. This marks the first controlling stake acquisition by AMEC through share issuance in over two decades since its establishment, signifying a substantial step forward in its platform strategy.
This supporting financing was conducted through a competitive issuance to specific investors, with the pricing base date set as June 9, 2026. The final issuance results show that the private placement price was locked at 290.88 yuan per share, with a total of four qualified issuance targets identified. A total of 5.1568 million shares were issued, raising approximately 1.499 billion yuan in actual funds, essentially reaching the planned fundraising cap of 1.5 billion yuan. These new shares completed securities registration procedures on July 2, 2026, and are all restricted tradable shares, which will be unlocked in batches according to regulatory rules.
The raised funds will be allocated to three areas: the target company's high-end semiconductor equipment industrialization and R&D center project construction, payment of cash consideration and intermediary fees for this transaction, and replenishment of the listed company's working capital. The scale of working capital replenishment strictly adheres to regulatory requirements, not exceeding 25% of the transaction consideration and 50% of the total supporting fundraising amount. This restructuring consists of two independent components: asset acquisition and supporting fundraising, with a one-way prerequisite constraint between them. The implementation of supporting financing is conditional on the completion of the prior equity acquisition, but the equity acquisition process is not constrained by the outcome of the supporting fundraising. Even if the supporting funds are not fully raised, it will not affect the delivery of the target equity or the acquisition process.
The transaction payment adopts a combination plan of "share issuance plus cash payment." AMEC will acquire 64.69% equity of Hangzhou Zhonggui from a total of 41 transaction counterparties, including Hangzhou Zhongxingui, Ningrong Haichuan, and Lin'an Zhongxingui. Upon full completion of the transaction delivery, Hangzhou Zhonggui will be incorporated into the listed company's consolidated financial statements, becoming a controlled subsidiary of AMEC. In terms of valuation, the appraisal report shows that the assessed value of 100% shareholder equity of Hangzhou Zhonggui is 2.501 billion yuan; after negotiation and adjustment by the transaction parties, the overall equity transaction consideration for the target is set at 2.436 billion yuan. Corresponding to the 64.69% equity acquired in this transaction, the total asset acquisition consideration amounts to 1.576 billion yuan.
As the core asset of this acquisition, Hangzhou Zhonggui specializes in the independent R&D and industrialization of high-end semiconductor chemical mechanical polishing (CMP) equipment. It is one of the few domestic enterprises in China to achieve technological breakthroughs and mass production of 12-inch high-end CMP equipment. The company's products cover 8-inch and 12-inch mainstream wafer processes, adaptable to advanced logic chips, memory chips, large silicon wafer manufacturing, and third-generation semiconductor silicon carbide substrate polishing, among other diverse scenarios, breaking the monopoly of overseas equipment.
CMP is an indispensable wet core process in semiconductor front-end manufacturing and was a key gap in AMEC's business layout. AMEC's core strengths have long focused on dry process equipment such as plasma etching and thin film deposition. Through this controlling stake in Hangzhou Zhonggui, AMEC formally fills the gap in wet process capabilities, assembling the four core semiconductor front-end process capabilities of etching, thin film deposition, metrology and inspection, and CMP wet processing, thereby building a complete process loop integrating dry and wet methods. This layout enhances the company's semiconductor equipment product matrix and improves its ability to deliver one-stop solutions to domestic wafer fabs.
