Capital Dynamics|Hongli Optoelectronics Fundraising Expansion Package Dehao Runda Abandons Acquisition of Domestic Listed Companies

[Text / Gaogong LED Huang Yaping] Hongli Optoelectronics (300219), announced on October 16 the feasibility analysis report on the use of funds raised by non-public offering of shares.

In order to promote the development of Hongli Optoelectronics LED industry, further expand the business scale, improve the industrial chain, enhance the company's competitiveness, and improve profitability, according to the company's development needs, the total amount of funds raised by the company does not exceed 725,494,300 yuan.

Background of this non-public offering

1. In recent years, relevant national departments have issued a number of industrial incentive policies for the LED industry, which has greatly promoted the rapid development of the LED industry in China.

2. The LED industry is developing rapidly in China. LED has been widely used in general lighting, backlight, landscape lighting, display, traffic signals, automotive lighting and home electronics consumption.

3. At present, major countries and regions in the world have successively issued policies and regulations for the complete elimination of incandescent lamps, and LED lighting will accelerate the replacement of traditional light sources. It is expected that the incandescent lamps for general lighting will exit the domestic general lighting market after 2016.

The purpose of this non-public offering

The successful implementation of the Hongli Optoelectronics investment project will help the company further expand the scale of LED packaging business, improve the industrial chain and enhance the company's profitability.

This fundraising plan

The net proceeds from the deduction of the issuance expenses are intended to be used for the three projects of “SMD LED Construction Project”, “Acquisition of 49% equity of Liangyou Hardware and Capital Increase Project” and “Supplementary Liquidity Project”.

Snow Wright (002076) announced on October 16 that Fushun Optoelectronics Co., Ltd., a wholly-owned subsidiary, has established Fujian Fushunda Optoelectronics Technology Co., Ltd. in Fujian Province to further expand its business and expand its sales scale with its own funds of RMB 10 million.

The wholly-owned subsidiary of Snowlight Fushun Optoelectronics LED business mainly includes LED display, LED lighting products, road street lamps, solar street lamps and so on.

After the establishment of the new company Fushunda Optoelectronics, it will mainly operate: R&D, manufacturing and sales of LED display, LED lighting products, road street lamps, solar street lamps and energy-saving lamps, import and export of self-operated and agent goods and technologies.

Shell Wright said that the establishment of the new company will help accelerate the expansion of Fushun Optoelectronics business, expand sales scale, and enhance the overall profitability of Fushun Optoelectronics, which will not have a major impact on the company's performance in the short term. In addition, after the establishment of the new company, it may face risks such as unsatisfactory business development and personnel management.

Dehao Runda (002005), announced on October 16 that the company has suspended trading since the market opened on August 26, 2015 due to the planning of major assets and equity acquisitions.

1. The planned acquisition of a domestic listed company's equity

Before the company suspends trading, the company's affiliates have bought a small amount of shares of the underlying company through the stock exchange. The company's plan is to continue to increase the holding of the underlying company's stock to 5% after the suspension of trading, and then negotiate with its controlling shareholder to transfer the shares it holds to become the controlling shareholder of the target company.

Coincidentally, the target company suspended the trading on the same day as the company's stock due to major events, and then terminated the major events in September 2015 and resumed trading on the same day. The target company then disclosed the announcement of the change of the controlling shareholder, and its holding The shareholder has signed an equity transfer agreement with a third party to transfer the entire equity of the underlying company held by it to a third party.

According to the latest changes in the shareholding structure of the underlying company, the company has carefully analyzed and evaluated that it is difficult to obtain control of the underlying company. The company decided to abandon the acquisition plan for the underlying company's equity.

2. Acquisition of overseas assets

Up to now, the company has had several rounds of negotiations with the seller of the asset, and has reached an agreement with an internationally renowned investment bank on the due diligence of the proposed acquisition of assets, and has signed a formal letter of appointment. At the same time, a preliminary agreement has been reached with a state-level industrial fund for a cooperative acquisition. Business negotiations between the company and the asset seller are on schedule.

Due to cross-border mergers and acquisitions, the company estimates that the negotiation time will be longer. Up to now, apart from the non-disclosure agreement, the company and the asset seller have not signed any written agreement on the sale of the assets, and there is still uncertainty as to whether the two parties can finally reach an agreement.

In view of the above-mentioned major acquisitions, there are still uncertainties, in order to protect the interests of investors and avoid abnormal fluctuations in the company's stock trading, according to the "Shenzhen Stock Exchange Listing Rules", "Guidelines for the Standardized Operation of Listed Companies of SME Boards" and other relevant regulations. After the company's application, the company's stock (stock abbreviation: Dehao Runda, stock code: 002005) will continue to be suspended from the opening on October 16, 2015.

Shiyida (002137), announced on October 16 that the company's stock was suspended from trading on July 16, 2015 due to major events.

As of the date of this announcement, the company and relevant parties are actively promoting the work involved in this major asset reorganization, and the relevant intermediaries are conducting due diligence, auditing and evaluation of the assets involved in this major asset reorganization.

During the suspension period, the company will fulfill its information disclosure obligations in a timely manner in accordance with relevant regulations, and announce the progress announcement of the matter at least every five trading days until the relevant matters are confirmed and the relevant results are disclosed.

Orient (600666), announced on October 16 that the company's stocks have been suspended since August 24, 2015 due to the planned non-public offering of shares.

During the suspension period, the relevant intermediaries hired by the company are further discussing and demonstrating on specific plans, and are conducting audits, evaluations, and preparation of organizational plans for the underlying assets.

In view of the need to audit, evaluate and work on the assets to be acquired, the auditing and evaluation of related assets has not been completed, and the specific plan needs further argumentation, and the company's shares will continue to be suspended.

During the suspension of trading, the company will fulfill its information disclosure obligations in strict accordance with the provisions and requirements of relevant laws and regulations according to the progress, and announce the progress of the events every 5 trading days.

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