Big Fund Sells 0.61% of Goodix's Stocks
From August 3 to September 17, the National Integrated Circuit Industry Investment Fund (the Big Fund) sold 0.61% of Goodix's shares, and its holding fell to 4.99%.Generally speaking, such action is common for the Big Fund, but the information is likely to negatively impact the stock price during the following trading sessions.
Goodix's Semi-annual Profit Tumbles, Shares Down 2.94%
The semiconductor company Shenzhen Goodix Technology (603160:CH) released its semi-annual report on August 28. The results show that, on a year-on-year basis, though Goodix's revenue increased by 5.87%, its net income dropped significantly by 41.26%. In the first half of 2020, Goodix generated CNY 3.1 billion revenue and CNY 597.3 million profit. The net operating cash flow, reduced by 99.65%, from CNY 808 million in 1H 2019 to CNY 2.8 million in 1H 2020.
Founded in 2002, Goodix Technology is a human-computer interaction technology and solutions provider specialized in the intelligent terminal sector, and smartphones, tablets and wearable products. The company develops and manufactures fingerprint identification chips and capacitive touch controller chips. The products and services of Goodix are used by Huawei, Xiaomi (01810:HK), Samsung (005930:KR), Lenovo (00992:HK), OPPO, JDI (06740:JP), Toshiba (06502:JP) and Panasonic (06752:JP).
On August 15 last year, Goodix Technology passed the proposal of purchasing ‘Voice and Audio Solutions (VAS)’ from NXP B.V. at USD 165 million. Goodix Technology then can set up sub-subsidiaries through Goodix Technology (Hong Kong) in the countries where NXP B.V. operates its VAS business. Goodix together with existing subsidiaries will take over VAS’s fixed assets, inventories, patents, contracts and specified executives. By November 23, 2019, the company has established four sub-subsidiaries in Holland, Belgium, France and India.
Driven by IoT, 5G, cloud computing and AI, IBS’s report ‘Semiconductor Market Analysis’ predicts that the global semiconductor market size will achieve USD 1052.7 billion in 2030 while that in 2019 is USD 400.9 billion. The rising speed equals to a compound annual increase rate of 9.17%. China’s semiconductor market accounts for more than half of the international market in size and the proportion is estimated to further expand to 59% in 2030.
The share price of Goodix Technology reduced by 2.94% during the day after semi-annual results were released.
Goodix's Revenues Realize a YoY Increase of 5.87%
Goodix Acquires Dream Chip, Seeks New Applications in Automotive Sector
China's Big Fund Trims Stakes in Local Chipmakers amid Semiconductor Frenzy
On July 9, the China National Integrated Circuit Industry Investment Fund (CICIIF or 'Big Fund') sold 2.36 million shares, or 0.5% of GigaDevice's total share capital, with the transaction volume reaching CNY 630 million.
According to the short plan released on June 13, the Fund's current short quota of GigaDevice shares still leaves 2.35 million shares unused. Based on the current stock price estimate, it is expected that the subsequent amount of short selling will exceed CNY 600 million.
Apart from that, the Fund is planning to short another four stocks, including Shenzhen-based integrated circuit designer Goodix. If sold at the current prices of each of these shares, the total amount the Fund will receive could be over CNY 4.9 billion.
Though this reduction is normal practice, considering the recent overheating of the A-share market, the Big Fund's recent action might be purely event-driven.
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