Hongli Optoelectronics plans to acquire 16.05 million shares of Xinquan Optoelectronics
On the evening of May 19, “G20-LED Summit member company†Hongli Optoelectronics (300219) announced that in order to promote industrial integration and accelerate the development of LED street light business, the company plans to use its own funds of 16.05 million yuan to acquire Wang Qian’s 30% equity of Dongguan Xinquan Optoelectronic Technology Co., Ltd.
Hongli Optoelectronics said that the acquisition is beneficial to the implementation of the company's LED outdoor lighting, especially the LED street light project, enhancing the production and R&D capabilities of the company's LED street lamps, and increasing the market share of LED outdoor lighting, which can further promote the company's business development and integrate the industrial chain. Broaden market channels and improve the efficiency of capital use.
Hongli Optoelectronics said that the transaction price is based on Xinquan Optoelectronics' overall net assets as of April 30, 2014, taking into account previous year's net profit and future profitability. The Equity Transfer Agreement is accompanied by performance commitments and compensation and incentive clauses, which are negotiated and determined by the parties under the principle of fairness and voluntariness. The underlying assets are priced and fair, and the relevant procedures are in compliance with relevant laws, regulations and the Articles of Association. There are situations that harm the interests of the company and its shareholders, especially small and medium shareholders.
Hongli Optoelectronics said that the acquisition is beneficial to the implementation of the company's LED outdoor lighting, especially the LED street light project, enhancing the production and R&D capabilities of the company's LED street lamps, and increasing the market share of LED outdoor lighting, which can further promote the company's business development and integrate the industrial chain. Broaden market channels and improve the efficiency of capital use.
Hongli Optoelectronics said that the transaction price is based on Xinquan Optoelectronics' overall net assets as of April 30, 2014, taking into account previous year's net profit and future profitability. The Equity Transfer Agreement is accompanied by performance commitments and compensation and incentive clauses, which are negotiated and determined by the parties under the principle of fairness and voluntariness. The underlying assets are priced and fair, and the relevant procedures are in compliance with relevant laws, regulations and the Articles of Association. There are situations that harm the interests of the company and its shareholders, especially small and medium shareholders.
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