A group to more than 600 million purchase of Kang Mingsheng, cohesion development of off grid lighting

Nearly two weeks after the suspension, a group December 1st announcement, intends to 615 million acquisition of cash holdings of major shareholders, Li Dichu and Kang Ming Sheng core team a total of 36.65% stake, in order to strengthen the company's main business. At the same time, the counterparty intends to not less than 330 million yuan in cash holdings group stock market in two.

Two years ago, a group has completed the acquisition of 60% stake in Kang Mingsheng, then the corresponding valuation of 528 million yuan. May 2016, Kang Ming Sheng listed on the new board of the financing, the group's shareholding proportion dropped to 55.89%. Now, a group intends to acquire the remaining 36.65% stake in the corresponding valuation of 615 million yuan. While the overall valuation of the acquisition of 1 billion 680 million yuan. Li Dichu and the core team promised in the 6 months after the delivery options, the price is not higher than 8 yuan / share, two secondary market holdings of shares of not less than 330 million yuan.

According to reports, Kang Ming Sheng to enhance the valuation of benefits from its last two years on the results of good. Among them, 2015 and 2016 net profit reached 110 million yuan and 130 million yuan. The company said its 2017 annual performance is not much problem. At the time of the acquisition, Kang Ming Sheng core team is also committed to the future three year performance, 2018 performance in 2020 completed 125 million yuan and 140 million yuan and 155 million yuan, also said Kang Mingsheng will focus on the business network from the field of lighting.

Company introduction, off grid lighting is a can not rely on the commercial power grid, but the independent power generation and storage device. It can solve for electric lighting without grid, no reliable grid area or because of an emergency power grid project. From the form of power grid lighting include wind, ocean and solar photovoltaic power generation system.

A group said the company completed in 2015 Kang Ming Sheng holdings, promote the vertical integration of industrial chain company. This acquisition will further give full play to the advantages of the industrial chain, to achieve complementary advantages, the rapid growth in market competition and lighting applications market background, consolidate their competitive position in the field of LED lighting.

Source: Securities Times

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