On July 19th evening, foshan lighting revealed three consecutive investment announcements. Including to buy south and company equity, to buy zen chang company and set up a joint venture's main electrical products. In the large amount of foreign investment at the same time, the company also disclosed the underweight, a scheme is proposed to reduce its holdings of the porch high-tech stocks, to repatriate funds, focusing on its main business.
Acquisition of the south and share the property income
Company in 180 million yuan to buy the jas co., LTD in shenzhen south and communication industrial co., LTD. (hereinafter referred to as the "south and the company") 32.85% of the shares. For guangdong electronic information industry group co., LTD. (hereinafter referred to as the "group") is the foshan lighting controlling shareholders, and the south and the company the first big shareholder, company purchase the jas co., LTD., owns 32.85% of the south and the company is completed, will form associated with electronics group in the south and the company to investment relationship.
According to introducing, the south and the company was established in December 1983, the registered capital is 63.33 million yuan, main business includes: production of electronic products, communication products, plastic products, mould products, radio transmitting equipment, mobile phone (mobile phone), LED lighting products. Longgang district south bay street sand road no. 100 has its own factory and dormitory leasing business, etc.
It is important to note that the south and the company is located in shenzhen longgang district buji town industrial factory covers an area of 49009.8 square meters, the land use of industrial land. In January 2013, the south and the company with the cheonan digital city signed the cooperation agreement, both parties agree on the south and company shenzhen industrial factory cooperative development of urban renewal project. According to the "cooperation agreement" agreement, shenzhen industrial factory involved in the project site and the ground buildings, have house property card with a construction area of 57447 square meters and temporary building construction area of 6522 square meters) for urban renewal, update the direction for the new industry, and other functions.
For the urban renewal projects, south, and the company does not need to invest any money. After completion of construction, a property property area of hold of house property card relocation property construction area of 57447 square meters, according to a ratio of one point two (1 to 1. 2) the proportion of compensation property property a total construction area of 68936.4 square meters, construction area of 6522 square meters, the temporary buildings according to a ratio of zero point eight (8) while the proportion of compensation property property a total construction area of 5217.6, total property property construction area of 74154 square meters. At the same time, the "cooperation agreement" also agreed that if the volume rate for the final update project specialized planning according to the project land area of 49009.8 square meters, accounting for more than 4.0 should be returned in the property, beyond the plot ratio above 4.0 (not including 4.0) prior to the south and compensation of twenty percent (20%) of a property property company.
According to introducing, the urban renewal projects have been included in the shenzhen city 2016 update unit first plan, and approved by the shenzhen municipal government; At the same time, the project has been approved for major projects in 2016 in shenzhen city. At present, the urban renewal projects special planning has been submitted to shenzhen relevant government authorities for examination and approval. Foshan lighting, points out that after the completion of the renovation project, property property gains can be expected. Company through the acquisition of the south and the company's equity, can share industry factory in shenzhen city after upgrading the benefits, increase the income of the company.
Set electrical products joint venture
Offered 25.5 million yuan, in addition, the company set up joint venture with other legal person (or individual) "as an electrician Buddha wisdom control technology co., LTD." (hereinafter referred to as the "Buddha as electrician"), the main business for research, development, production and sales of electrical sockets, switches, switches and other electrical products, registered capital of 50 million yuan, the company accounted for 51% stake in the joint venture company; Joint venture management and backbone employees paid 8.5 million yuan, accounting for 17% stake in the joint venture company; Production side strategic investor invests 10 million yuan, accounting for 20% stake in the joint venture company; Sales side strategic investor invests 6 million yuan, accounting for 12% stake in the joint venture company. All parties paid in cash.
Foshan lighting, points out that electrical products and lighting products have a certain relevance, especially in product sales channels have high overlap, and the company after years of development, has formed a nationwide marketing network layout, channels has obvious advantages. Using company perfect sales channel, brand awareness and the advantages of the rich management experience, to quickly enter the market for electrical products provides effective protection. By the company and jv company management and key employees, production and sales of strategic investors with investment in the subsidiary, can fully mobilize the enthusiasm of all parties, the parties share the risk, share investment, promote the development of electrical products business faster into the right track.
The company's third is to buy back holdings subsidiary equity investment. As the integration of internal resources, strengthen the management and resource utilization of zen chang company, foshan lighting bid on chang lighting equipment co., LTD owns 30% of the zen chang company. According to introducing, zen chang company is the company's investment in 2005 set up the joint venture company, the registered capital is 72.7829 million yuan, the company accounted for 70%, guan chang lighting equipment co., LTD. 30% stake, after the acquisition, the company will wholly owned holding zen chang company.
Hin high-tech plans to reduce its countries by 4.17%
At the same time, foshan lighting also revealed a underweight plan: according to the company's own development needs, strengthen the company's main business, optimize the structure of assets, investment income, meet the demand of funds for the development of the company, the company plans to this day until December 31, 2016, big deals or collective trading through bidding ways include the porch high-tech stock holdings countries, reduce its quantity is not more than 36.5 million shares, no more than the porch tech centers currently 4.17% of the total equity.
Announcement, the company owns the porch high-tech stocks a total of 73.0062 million shares, accounting for the porch tech center, 8.33% of the total equity shares for unlimited shares outstanding sale conditions. According to company's earnings in 2015, above the porch of high-tech shares held by the company assets book historical cost is 160 million yuan. According to the July 18, 2016's closing price of 41.85 yuan per share calculation, the porch high-tech stocks held by the company a market value of 3.055 billion yuan.
Independent director in the company thought: reduction of the company is part of the porch high-tech stocks, accords with the practice of company development, is advantageous to the company focus on its main business, optimize the assets structure, guarantee the investment income, reduce the risks of capital market volatility.
In addition, the company also released a provision for impairment of assets, the company 21.1606 million yuan, the provision for assets impairment provision provision will reduce directly after the first half of 2016 net profit of 17.9865 million yuan. The board believes that due to the shrinking of traditional lighting market and the LED lighting product upgrading faster, product cycle is short, the part of the backlog of inventory for a long time, a certain degree of impairment sign, so the company to relevant inventory provision the corresponding impairment loss.
