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Source: Changjiang Business Daily
Jiang Chuya, public welfare reporter of Changjiang Business Daily.
Yu Renrong, the richest man on chip in China, continues to donate money to help the development of education.
Recently, Weir shares (603501RealisticcarcrashsimulatorgameSH) announced that its controlling shareholder, Shaoxing Weihao Equity Investment Fund Partnership (Limited Partnership) (hereinafter referred to as "Shaoxing Weihao") plans to donate its holding company free of charge to the Education Foundation of Ningbo Oriental University of Science and Technology.Realisticcarcrashsimulatorgame15 million shares in unlimited conditional tradable shares, accounting for 1.23% of the company's current total share capital. Based on the current share price of Weir shares, the market value of the donated shares is about 1.5 billion yuan.
This is not the first time that Yu Renrong has donated more than 3.3 billion yuan worth of shares through his actual control of Shaoxing Weihao in nearly a year to support the development of Ningbo Oriental University of Technology (temporary name).
Yu Renrong became the richest chip in China for two consecutive years in 2021 and 2022. Weier is the third largest CIS chip manufacturer in the world, with a market capitalization of more than 310 billion yuan at its peak. In October 2023, Yu Renrong ranked 102nd on the 2023 Hurun Rich list with a wealth of 44.5 billion yuan.
Attach importance to learning and education, and think of the source when you are rich. Vertical and horizontal chip cutting-edge industry for many years, Yu Renrong did not forget to promote the exploration of high-tech and cutting-edge technology. In 2020, he established the Yu Renrong Education Foundation to subsidize the development of education. In 2022, he announced that he would invest 30 billion yuan to jointly build Ningbo Oriental University of Technology with the Ningbo municipal government, focusing on training top-notch innovative talents in science and technology.
Continue to donate funds to promote the development of education
In order to support the development of education, Weier Co., Ltd. recently announced that Shaoxing Weihao plans to donate its 15 million unlimited tradable shares to the Education Foundation of Ningbo Oriental University of Science and Technology for free. At the current share price of Weier shares, the market value of the above donated shares is about 1.5 billion yuan.
Prior to this, Weihao in Shaoxing has donated Weier shares twice. On February 27th, 2023, Weir disclosed that Shaoxing Weihao planned to donate 10 million shares of the company held by Ningbo Yureong Education Foundation to sell unlimited conditional tradable shares. According to the stock price at that time, the corresponding market value of the donation exceeded 800 million yuan.
On December 5, 2023, Weir again announced that Shaoxing Weihao plans to donate 10 million shares to the Education Foundation of Ningbo Oriental University of Science and Technology for unlimited sale of conditional tradable shares. At that time, the corresponding market value of the donation exceeded 1 billion yuan.
Over the past year, Yu Renrong, through his actual control of Shaoxing Weihao, has donated more than 3.3 billion yuan worth of shares to support the construction of Ningbo Oriental University of Science and Technology.
According to Weier joint-stock announcement, Ningbo Oriental University of Technology Education Foundation was established on June 26, 2023, the scope of business is to subsidize the educational development of Ningbo Oriental University of Science and Technology, to subsidize the training of talents, to fund educational research activities, and to subsidize other educational and research undertakings in line with the purpose of the Foundation.
According to the public information disclosed on the official website of the Yu Renrong Education Foundation, in 2021, the foundation gave 45.26 million yuan to the Advanced Research Institute of Oriental Science and Technology. for the day-to-day operation of the school-running project jointly run by the Ningbo municipal government and the Ningbo Yu Renrong Education Foundation, and in 2022, another 184 million yuan was given to the Oriental Institute of Technology for the Oriental University of Technology project.
It is worth noting that after this donation, Yu Renrong, the controlling shareholder of Weir shares, and his concerted actors, Wei Hao and Yu Xiaorong, reduced their shareholdings from 36.9% to 35.66%. Weir shares said that the donation will not lead to changes in the company's controlling shareholders and will not have a significant impact on the corporate governance structure and sustainability.
There are also investors who doubt that the donation has the intention of reducing its holdings in disguise, and a person from the company's investor service department said: "there is no disguised reduction." The University Foundation is a public welfare organization. The use of foundation funds is promoted in accordance with the progress of school construction, and is supervised by the Ministry of Education and the civil affairs department. The focus of this donation is that the school is applying for the qualification of running a school, and it needs to have a certain amount of assets, so make a donation. "
Weier issued a supplementary announcement after the donation announcement, saying that the stock donations received by the Ningbo Oriental University of Technology Education Foundation and Yu Renrong Education Foundation were used to prove the important composition of the school's assets. In addition, there is no relationship between the recipient and the company and its controlling shareholders, directors, supervisors and senior managers.
Donate more than 30 billion to build a school and aid students.
Yu Renrong, chairman and actual controller of Weier shares, is a 1985 alumnus of Zhenhai Middle School in Ningbo and an alumnus of Tsinghua University.
In 2007, Yu Renrong established Weir shares, and in 2017, Weir shares successfully landed in the capital market in the tenth year of its establishment. For more than 20 years, Yu Renrong led Weir shares to become the third largest CIS chip manufacturer in the world, with a market capitalization of more than 300 billion yuan. As a founder, Yu Renrong has also become the richest man in China's chip for two consecutive years in 2021 and 2022, with a wealth value of 95 billion yuan. In October 2023, Yu Renrong ranked 102nd on the 2023 Hurun Rich list with a wealth of 44.5 billion yuan.
As the richest man in China's chip industry, Yu Renrong never forgets to give back to society and contribute to the development of education. In 2020, Yu Renrong, who was affectionate in Sangzi, decided to donate money to build a "world-class research university with characteristics of science and engineering" in his hometown Zhenhai (north bank of Yongjiang).
On December 29, 2021, the Ningbo municipal government and the Ningbo Yu Renrong Education Foundation held a signing ceremony for cooperation in running schools. According to the agreement, the two sides will jointly build a new research university in accordance with the principles of "equality and mutual benefit, mutual promotion and common development".
According to the plan, the Ningbo municipal government will invest 16 billion yuan to select the school site and the total size of the planned land is about 2300 mu. Ningbo Yureong Education Foundation will invest 10 billion yuan in university infrastructure construction and invest more than 20 billion yuan in running a school.
In December 2022, the construction of the permanent campus of Ningbo Oriental University of Science and Technology began, and the first phase of the project is expected to be completed in 2025. Within ten years of planning, the number of core professors or independent PI (independent researchers) will reach 600 and the number of students will be 10, 000.
At the groundbreaking ceremony of Ningbo Oriental University of Technology held on December 29, 2022, Yu Renrong said: "I hope that every teacher, here can feel at ease teaching, focus on scientific research, look forward to every student here can devote himself to study, be brave in innovation, dare to challenge various scientific and technological problems." I also look forward to providing you with a world of independent thinking and free innovation. I am willing to share with you all my warm blood." He hopes to train talents through education and contribute to improving China's technological level in chips, components and other fields.