Mr. Mu Linsen announced at noon today that the company intends to purchase 80% of the shares of Jianshiguo held by Yan Jianguo in cash. The transaction price is based on the net assets of Chaoshiyuan as assessed on December 31, 2015, and is excluded. The bank liabilities that should be repaid before delivery are determined by mutual agreement.
According to the announcement, the main assets of Chaoshi Light Source are the land use rights, the ownership of the above-ground buildings and their production equipment of Sun Company Xinhe (Shaoxing) Green Lighting Co., Ltd. (hereinafter referred to as “Xinhe Shaoxingâ€). Xinhe Shaoxing is mainly engaged in the production and sales of energy-saving lamps, LED lamps and their parts, components and accessories. It is the largest manufacturer of LED filament lamps in China.
According to financial data, Chaoyang Light Source had total assets of 628 million yuan and net assets of 117 million yuan as of December 31, 2015; operating income for 2015 was 428 million yuan, and net profit loss was 2,067,700 yuan.
Although the super-era source has a slight loss, Mulinsen is quite optimistic about this acquisition. He said that this foreign investment is in line with the company's development strategy, and the acquisition of the target group can obtain the technical process and market share of LED filament lamps as quickly as possible. It has positive significance for enriching and enriching the company's LED lighting product line. At the same time, based on the industry synergy and integration benefits after the merger, it will have a positive effect on the company's future performance.
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