The price and technology transfer are now different. Hon Hai's capital injection is extended for another 3 months.
A few days ago, Sharp announced that as of March 26, Sharp did not receive Hon Hai’s capital injection. According to the agreement signed by the two parties on March 27, 2012, March 26 is the deadline for Hon Hai to invest 66.9 billion yen in Sharp. At the beginning of this month, Samsung has invested 3% in Sharp, and between the advance and retreat, the China, Japan and South Korea tablet industry has a new competitive landscape.
Sharp said on the official website that Hon Hai did not inject capital, mainly because the relevant authorities did not approve the capital injection. However, a person from Sharp (China) told reporters that this does not mean that Sharp and Hon Hai will stop cooperating, and the two sides will cooperate smoothly on the 10th generation. "There is still the possibility of negotiation on capital injection."
A spokesman for Hon Hai said: "The negotiation has continuity and is not subject to any plans or timetables."
Price and technology transfer are different
In March last year, Hon Hai and Sharp signed an agreement. Hon Hai plans to spend 66.9 billion yen to subscribe for 9.9% of Sharp's shares at a price of 550 yen per share. If so, Hon Hai will become Sharp's largest single shareholder. Unexpectedly, Sharp's share price was affected by the performance, once fell below 200 yen / share. Hon Hai wants to lower the stock price or expand the shareholding ratio, but Sharp does not accept it. Therefore, Hon Hai’s capital injection Sharp has not been approved by the relevant Taiwan authorities.
Sharp subsequently actively introduced a number of investors. Last year, Qualcomm announced that it plans to invest 120 million US dollars and participate in Sharp 5%. In March this year, Samsung also invested about 10.4 billion yen in Sharp, about 3%; at the same time, it also discussed cooperation with Intel and Dell.
The industry believes that Hon Hai's capital injection of Sharp is unsuccessful, mainly because Sharp has found the “sea estuary†and source of funds for LCD panels through cooperation with many parties.
However, Li Yaqin, research director of Qunzhi Consulting, believes that Sharp is still under pressure. After Qualcomm announced its stake in Sharp, the funds have not yet been put in place, and it is expected to be half of the investment at the end of June this year. "So, Sharp and Hon Hai still have the possibility to negotiate."
It is understood that in the face of the loan due to expire in June this year, as well as the redemption of bonds in September, Sharp still needs more funds. The industry estimates that most of Sharp's funds will come from stocks that may be released in the summer of 2013. But before the stock issuance, if you can get further investment from Sharp, it will help to restore confidence in the capital market.
Li Yaqin said that in addition to the share price, Hon Hai gave up the capital injection of Sharp, and technology transfer is estimated to be another difference. Hon Hai values ​​Sharp's panel technology and hopes to share Sharp's technology to drive its group's panel business. Therefore, Hon Hai wants to gain access to the Sharp Board of Directors and gain actual control by expanding the shareholding ratio. Sharp is very wary of this.
Hon Hai promises to complete investment within 3 months
In the short term, giving up the capital injection of Sharp will have little impact on Hon Hai. Li Yaqin believes that Hon Hai invested 66 billion yen in the shares of Sharp's 10th generation line last year and obtained half of the production capacity of the 10th generation line. At present, the two sides are still developing large-size products.
However, Hon Hai’s long-term strategy will be affected. Hon Hai’s boss, Guo Taiming, once put forward the idea of ​​“Lianri’s anti-Korean†and plans to unite with Japanese companies to fight against the fast-growing South Korean Samsung. Today, Samsung has acquired a stable LCD panel resource by participating in Sharp's "becoming an enemy", and once again interpreted "Japan-Korea United" (previously Samsung and Sony jointly established a solar panel eighth generation line).
Li Yaqin said that under the new competitive landscape, Samsung is even more powerful. It not only has a leading edge in the Amoled panel, but also Sharp support on the LCD panel. In addition, Samsung 8.5 generation line will be put into production in the fourth quarter of 2013, Samsung panel resources The control is stronger, which is conducive to further improvement of its competitiveness.
For Taiwan-funded panel factories, especially Innolux, the status will decline. Sharp has advantages in new liquid crystal panel technologies such as oxides and LTPS, and Innolux is weak in these areas. "Hong Xia Lian" fell through, making it impossible for Innolux to share Sharp's new technology. The panel factory in mainland China has risen rapidly and has a cost advantage. The pressure on Taiwanese companies in the pinch is increasing.
Because of this, Hon Hai "to abandon and stay." In a reply to the newspaper yesterday, Hon Hai said, "On March 24, 2013, the high-level meeting of the two sides sincerely conducted a five-hour discussion in a face-to-face meeting. The meeting confirmed the direction for the two sides to continue cooperation."
Hon Hai also said, "According to the contract signed on March 27, 2012, the validity period of the two parties is 3 years, that is, it will expire on March 26, 2015. According to the high-level meeting of the two sides on August 3, 2012, Hon Hai will The way of the actual price of the agreement, fulfilling the commitment of 9.9% of the investment, I hope that with the support of the banking group, the investment situation will proceed as soon as possible, and the goal is to complete the investment within 3 months."
Hon Hai also said, "According to the contract signed in 2012, the operation of the business agreement will be supported by the bank group and the joint consultation. Hon Hai also hopes to invite the bank group to send people to participate in the operation of Okuda (President Sharp). The team, in the hope that Japan's century-old company Sharp can quickly revitalize its operations."
Sharp said on the official website that Hon Hai did not inject capital, mainly because the relevant authorities did not approve the capital injection. However, a person from Sharp (China) told reporters that this does not mean that Sharp and Hon Hai will stop cooperating, and the two sides will cooperate smoothly on the 10th generation. "There is still the possibility of negotiation on capital injection."
A spokesman for Hon Hai said: "The negotiation has continuity and is not subject to any plans or timetables."
Price and technology transfer are different
In March last year, Hon Hai and Sharp signed an agreement. Hon Hai plans to spend 66.9 billion yen to subscribe for 9.9% of Sharp's shares at a price of 550 yen per share. If so, Hon Hai will become Sharp's largest single shareholder. Unexpectedly, Sharp's share price was affected by the performance, once fell below 200 yen / share. Hon Hai wants to lower the stock price or expand the shareholding ratio, but Sharp does not accept it. Therefore, Hon Hai’s capital injection Sharp has not been approved by the relevant Taiwan authorities.
Sharp subsequently actively introduced a number of investors. Last year, Qualcomm announced that it plans to invest 120 million US dollars and participate in Sharp 5%. In March this year, Samsung also invested about 10.4 billion yen in Sharp, about 3%; at the same time, it also discussed cooperation with Intel and Dell.
The industry believes that Hon Hai's capital injection of Sharp is unsuccessful, mainly because Sharp has found the “sea estuary†and source of funds for LCD panels through cooperation with many parties.
However, Li Yaqin, research director of Qunzhi Consulting, believes that Sharp is still under pressure. After Qualcomm announced its stake in Sharp, the funds have not yet been put in place, and it is expected to be half of the investment at the end of June this year. "So, Sharp and Hon Hai still have the possibility to negotiate."
It is understood that in the face of the loan due to expire in June this year, as well as the redemption of bonds in September, Sharp still needs more funds. The industry estimates that most of Sharp's funds will come from stocks that may be released in the summer of 2013. But before the stock issuance, if you can get further investment from Sharp, it will help to restore confidence in the capital market.
Li Yaqin said that in addition to the share price, Hon Hai gave up the capital injection of Sharp, and technology transfer is estimated to be another difference. Hon Hai values ​​Sharp's panel technology and hopes to share Sharp's technology to drive its group's panel business. Therefore, Hon Hai wants to gain access to the Sharp Board of Directors and gain actual control by expanding the shareholding ratio. Sharp is very wary of this.
Hon Hai promises to complete investment within 3 months
In the short term, giving up the capital injection of Sharp will have little impact on Hon Hai. Li Yaqin believes that Hon Hai invested 66 billion yen in the shares of Sharp's 10th generation line last year and obtained half of the production capacity of the 10th generation line. At present, the two sides are still developing large-size products.
However, Hon Hai’s long-term strategy will be affected. Hon Hai’s boss, Guo Taiming, once put forward the idea of ​​“Lianri’s anti-Korean†and plans to unite with Japanese companies to fight against the fast-growing South Korean Samsung. Today, Samsung has acquired a stable LCD panel resource by participating in Sharp's "becoming an enemy", and once again interpreted "Japan-Korea United" (previously Samsung and Sony jointly established a solar panel eighth generation line).
Li Yaqin said that under the new competitive landscape, Samsung is even more powerful. It not only has a leading edge in the Amoled panel, but also Sharp support on the LCD panel. In addition, Samsung 8.5 generation line will be put into production in the fourth quarter of 2013, Samsung panel resources The control is stronger, which is conducive to further improvement of its competitiveness.
For Taiwan-funded panel factories, especially Innolux, the status will decline. Sharp has advantages in new liquid crystal panel technologies such as oxides and LTPS, and Innolux is weak in these areas. "Hong Xia Lian" fell through, making it impossible for Innolux to share Sharp's new technology. The panel factory in mainland China has risen rapidly and has a cost advantage. The pressure on Taiwanese companies in the pinch is increasing.
Because of this, Hon Hai "to abandon and stay." In a reply to the newspaper yesterday, Hon Hai said, "On March 24, 2013, the high-level meeting of the two sides sincerely conducted a five-hour discussion in a face-to-face meeting. The meeting confirmed the direction for the two sides to continue cooperation."
Hon Hai also said, "According to the contract signed on March 27, 2012, the validity period of the two parties is 3 years, that is, it will expire on March 26, 2015. According to the high-level meeting of the two sides on August 3, 2012, Hon Hai will The way of the actual price of the agreement, fulfilling the commitment of 9.9% of the investment, I hope that with the support of the banking group, the investment situation will proceed as soon as possible, and the goal is to complete the investment within 3 months."
Hon Hai also said, "According to the contract signed in 2012, the operation of the business agreement will be supported by the bank group and the joint consultation. Hon Hai also hopes to invite the bank group to send people to participate in the operation of Okuda (President Sharp). The team, in the hope that Japan's century-old company Sharp can quickly revitalize its operations."
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