Furistock electronic after sending the performance compensation notification sent two times, Michael sharp photoelectric finally made to the compensation for reply.

On May 17th, furistock electronic announcement, a subsidiary of Michael sharp photoelectric actual profit in the year of 2015 is lower than the results promised, in accordance with the previously acquired when the company's performance pledge agreement, Michael sharp photoelectric chairman Chen Zebo related party shall compensate the cash 23.2415 million yuan.

In furistock electronic twice in succession, however, sent Michael sharp photoelectric performance compensation after the notification, Chen Zebo related party replied, for personal reasons, can't pay on time performance promised compensation, but ensure that continue to perform the performance commitment, and subsequent promise of plan is put forward.

According to the check, Michael sharp photoelectric engaged in LED display and other related business. On their industry, foshan lighting association cultivation analysis think wu: "now the biggest problem is that excess capacity, which had appeared in two or three years ago, in 2015 is more prominent."

Promise again after three and a half months pay compensation

In accordance with the stipulations of the furistock electronics and Michael sharp photoelectric after formal acquisition, sharp photoelectric commitment performance targets:

1.2013 years, 2014, 2015, three year, consolidated net profit attributable to parent company owners (excluding non-recurring profit and loss) are not less than 30 million yuan, 35 million yuan and 39 million yuan.

2.2013 years, 2014, 2015, three year, consolidated net profit attributable to parent company owners (excluding non-recurring profit and loss) sums of not less than 120 million yuan.

But, according to huaxing certified public accountants issued by the performance of promises of fujian special audit report, Michael sharp photoelectric in 2013, 2014, 2015 annual results the realization of the promise, for 33.88 million yuan, 36.3731 million yuan, 26.5054 million yuan. Michael sharp photoelectric unrealized 2015 commitment, which vary in 2015-2015 yuan.

On April 22, 2016, on May 12, furistock electronic sent Chen Zebo related party has performance compensation "notification" "the second notification," continued to urge the performance compensation commitments within the given time.

According to the commitment and performance compensation agreement between the two sides, Michael sharp photoelectric should be in the 2015 annual audit report issued by 10 working days from the date of 30 days, in cash for a three-year combined the actual profit balance between the number and three-year total commitment to achievement, on May 14, 2016 will be paid for performance promised compensation of 23.2415 million yuan to the bank account designated by the furistock electronics. And related parties such as Chen Zebo response: a few days ago for personal reasons, can't pay on time performance promised compensation, put forward on August 31, 2016, the results promised compensation paid to the designated bank account of the company and pay the corresponding interest.

Reporters on the matter to contact Michael sharp photoelectric customer service with the front desk, the other party is unable to transfer to Chen Zebo phone, not clear corresponding matters on the grounds that hang up the phone.

Excess capacity has LED industry?

According to public information, furistock electronic acquisition of sharp photoelectric aims to promote the company LED industry chain integration, promote the competitiveness of the company, at the same time, improve the financial situation, increase profit growth point.

Furistock electronics, said the plan on the basis of holding subsidiaries furistock lighting, furistock photoelectric, vigorously developing the LED industry, formed a complete industrial chain, but in the production of LED display in smaller, technology is relatively weak. And Michael sharp photoelectric focused on the research and development, production and sales of LED display products.

At the same time, furistock electronics in 2013 "non-public stock plan (amendment)", in the long run, the sharp of the production and sale of photoelectric display, can effectively supplement company in the weak link of the LED industry chain, this acquisition is remarkable synergistic effect, can effectively promote the company's business structure adjustment and sustainable profitability.

Above the non-public stock plan (amendment) also showed that furistock electronic fitting for the price of 6.41 yuan/share, non-public shares is not more than 50 million shares, raised a total of 320 million yuan, used to buy sharp photoelectric a stake of 92.8% and to repay the loan. Among them, used to buy Michael sharp photoelectric fee is RMB 194 million, with earnings method to calculate, Michael sharp photoelectric net book value of 53.8714 million yuan, the increment rate of nearly 300%.

Now, however, furistock electronic abacus has failed at that time, the reporter also call furistock electronic chairman secretary xu ZhengSheng and equities Wu Zhifei will ask how to deal with this matter, but not answer the phone has been in the state.

For Michael sharp photoelectric performance, wu yulin analysis thinks, to remove their own factors, the LED industry "were, in fact, the biggest problem now overcapacity, inventory is too large, the market every year increasing at a rate of thirty percent, but the factory is increasing in two or three times, this is the biggest problem. There must be a large part of enterprises will be eliminated, is transition."