Set net news on July 21, HuaCan photoelectric (300323) yesterday evening notice the progress of the material assets reorganization, the preliminary plan of reorganization scheme is: the purchase of assets through issuing shares, namely: the property for the harmonious core light (yiwu) photoelectric technology co., LTD. (hereinafter referred to as the "SPV"), the SPV to the transaction of the shareholders of the target company to buy a 100% stake in the target company. The transaction of the target company for MEMSIC, INC. (USA), is the world's microelectromechanical (MEMS) sensor is the leading enterprise in the industry.
The MEMSIC is a new company focus on MEMS sensor and sensor system solutions company, developed a unique MEMS sensor components and system integration technology, focus on manufacturing a variety of miniaturization and lower product cost, for consumer electronics, industrial automation and aviation and other fields to provide diverse products market need. The year to may, the MEMS sensor shipments accumulated new company has more than 1 billion.
The transaction underlying asset's controlling shareholder to yiwu harmonious core equity investment partnership (limited partnership). Company currently has signed with the SPV and its controlling shareholders investment framework agreement, the agreement is to inform the shenzhen stock exchange has. Market price to forecast 2017 net profit target company (in what is low principle to determine) before and after 15 to 20 times earnings for valuation basis to determine, and the parties agreed to the final deal price to party a hired appraisal institution evaluation price of confirmation.
Currently the parties agreed to since the date of this framework agreement for exclusivity period in 90 days. The deal, confirmed by the parties, the asset SPV acquisition target 100% stake for the Chinese enterprise acquisitions overseas, to the competent department of commerce, national development and reform commission, the administration of foreign exchange reserves the right to department of examination and approval and for the record, the transactions are not available at the moment to authority department for examination and approval step.
On July 15, according to the 2016 interim results released HuaCan photoelectric forecast shows that the company is expected to net profit of RMB 54.68 million, increased 335% than the same period last year. HuaCan photoelectric co., LTD., vice President of jiang-bo wang, said HuaCan photoelectric actively expanding production increase this year, a total investment of 6 billion yuan of LED epitaxy, the chip and the sapphire projects have been started. The $1.5 billion cooperation agreement signed with wood Tomlinson, acquisition and layout of blue SPAR technology.
