The LED chip giant Huacan Optoelectronics (300323.SZ), which has been suspended since April 28, announced the announcement of more than 10 major asset restructuring announcements. It finally announced on the evening of August 11 that it intends to issue shares and pay cash. The way to purchase 100% equity of Yunnan Lanjing Technology Co., Ltd., and to raise funds for the non-public offering of shares of Shanghai Tiger Platinum New Energy Equity Investment Fund Partnership (Limited Partnership), Zhou Fuyun, Ye Aimin and Yang Zhongdong.
According to the “issuing shares and paying cash to purchase assets and raising matching funds and related party transactions†issued by Huacan Optoelectronics, the initial consideration for the 100% equity of Lanjing Technology was 1.08 billion yuan. Huacan Optoelectronics intends to trade counterparts Wu Kang and Wu Longzhen , Wu Longyu and Liu Qionghua issued 56,995,800 shares to acquire 50.73 million shares of Blue Crystal Technology held by the four people (shareholding ratio was 52.30%); to pay cash of RMB 154 million to the counterparty Hengda Steel Structure The shares of 138.06 million shares of Blue Crystal Technology (shareholding ratio is 14.28%); the acquisition of 3,424,900 shares of Blue Crystal Technology held by the trading party KAI LE was issued (shareholding ratio was 33.42%). Huacan Optoelectronics issued a total of 93,419,500 shares to the counterparty that issued the shares and paid for the purchase of assets, and paid cash of 154 million yuan. Upon completion of the transaction, Huacan Optoelectronics will hold 100% equity of Lanjing Technology.
In order to improve the efficiency of restructuring and enhance the ability of listed companies to continue to operate after the reorganization, Huacan Optoelectronics plans to raise the matching funds for this restructuring at the same time as this asset reorganization. Huacan Optoelectronics intends to issue a total of 67,264,600 shares to Shanghai Tiger Platinum New Energy Equity Investment Fund Partnership (Limited Partnership), Zhou Fuyun, Ye Aimin and Yang Zhongdong by means of price lock-up, and raise no more than 600 million yuan of matching funds.
The 600 million yuan raised funds were first used to pay 154 million yuan in cash consideration to the counterparty, while 324 million yuan was invested to increase the capital of Blue Crystal Technology after the completion of the acquisition and to invest in the construction of Blue Crystal Technology; the rest was used Supplement the liquidity of Huacan Optoelectronics.
The funds raised by the matching funds for the capital increase of Yunnan Lanjing will be used for the construction of two projects of Lanjing Technology, namely “LED Single Crystal Substrate Industrialization Project†and “Sapphire Window Materials New Product Development and Application Projectâ€. ". Among them, the “LED Single Crystal Substrate Industrialization Project†plans to raise 294 million yuan, and the “Sapphire Window Materials New Product Development and Application Project†plans to use this supporting fund for RMB 30 million.
In this transaction, the trading parties also signed a gambling agreement in accordance with the recent mergers and acquisitions in the LED industry. Yunnan Lanjing’s current shareholders promised that Yunnan Lanjing’s audited after-tax tax in 2015, 2016 and 2017 The total net profit is not less than RMB 270 million.
With the outbreak of downstream lighting applications, as the LED lighting industry technology and capital investment threshold of the highest epitaxial chip companies ushered in the golden period of rapid development, Huacan Optoelectronics as the leading chip in the domestic and international extended chip field, the annual revenue growth is also climbing. As a key raw material for epitaxial production, sapphire substrate is very important for Huacan Optoelectronics. The acquisition of Yunnan Blue Crystal, a sapphire factory, can control the most important source of upstream raw materials. This is the original intention of Huacan Optoelectronics to purchase Nanjing. Where.
Bian Difei, vice president of Huacan Optoelectronics, said in his previous interview with Gaogong LED that Huacan Optoelectronics will always focus on the field of epitaxial chips, not to expand the entire industry chain, and hope to use the professional division of labor in the industry chain to effectively The market configuration, to maximize the overall performance of the industry chain. Make more chip products that meet market needs.
The acquisition also confirms this.
According to the research data of the High-tech Research Institute LED Research Institute (GGII), Huacan Optoelectronics has reached 108 MOCVD machines. Huacan Optoelectronics continues to expand the production capacity of epitaxial chips. The acquisition of Yunnan Blue Crystal has solved the most important raw material problems, and has also added a key link for Huacan Optoelectronics to open the LED upstream industry chain.
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