Elec-Tech even moves: raise funds, equity transfer, capital increase......

In December 2nd, the company announced on December 1, 2017 at the fifth session of the board of directors for consideration by the thirty-first meeting of the three motion, were "about to raise funds to replace have pre invested equity investment projects project funds", "on the bill to raise funds on the capital subsidiary motion" and "on the subsidiary transfer of shares to another wholly owned subsidiary of the motion".

According to the announcement, the meeting considered and approved the company to raise funds 93982612.25 yuan replacement companies have pre invested LED flip chip project funds. The company by way of non-public offering of shares to five specific investors issued RMB ordinary shares (A shares) 368320000 shares, issue price of 5.43 yuan / share, to raise funds for a total of 1999977600 yuan, 30877753.96 yuan after deducting the cost of issue the actual net proceeds of 1969099846.04 yuan.

The issue of shares to raise funds to invest and use plan

In addition, the company will be passed to the subsidiary company of Bengbu Yi three Semiconductor Co. Ltd. (hereinafter referred to as the "three Bengbu Yi semiconductor"), a wholly owned subsidiary of Dalian BDO Photoelectric Technology Co. Ltd. (hereinafter referred to as the "Dalian BDO optoelectronics") cash capital way to organize the implementation of specific investment projects to raise funds. According to the "2016 annual non-public offering plan", the company will raise net proceeds of 1969099846.04 yuan in 75%, the proportion of 25% assigned to the LED project, LED chip level flip chip packaging project, that the use of 1476824884.53 yuan, 492274961.51 yuan in Bengbu Yi three semiconductor, Dalian BDO optoelectronics capital.

The capital equity

Statistics show that three of Bengbu Yi semiconductor main LED chip R & D, production, sales and technical advisory services. Dalian BDO photoelectric main development and production of LED chip, a light emitting diode, LED light source module, transmitting tube, LED semiconductor lighting products, LED decorative products, LED lighting, LED display, LED backlight, household appliances, electrical and electronic products, electric appliances, light industrial products, energy saving and environmental protection products; in these products wholesale. Engaged in mold control and the software system, the related product development, production, and provide technical advisory services; LED display rental (foreign investment proportion less than 25%).

Elec-Tech said, the company through to the Bengbu three Yi semiconductor, Dalian BDO photoelectric cash capital increase way specific organization and implementation of investment projects to raise funds, improve efficiency in the use of funds raised and raise funds for investment projects steadily promote and implement, strengthen Bengbu Yi three semiconductor, Dalian BDO optoelectronics capital strength, improve the company's overall financial the structure, reduce financial costs, and further enhance the company's competitiveness and profitability, in line with the use of the funds raised, in line with the interests of all shareholders and the company.

On the same day, China also announced that the company intends to wholly owned subsidiary of Elec-Tech International (Hongkong) Co., Ltd. (hereinafter referred to as the "Hongkong BDO International) 100% equity transfer to another company a wholly owned subsidiary of Zhuhai Electric Co., Ltd. (hereinafter referred to as the" Zhuhai of China "). This transfer of shares by the parity assignment way, according to the Hongkong BDO international September 30, 2017 net assets per share calculation, the transfer price of 2 billion 749 thousand and 400 yuan. After the completion of the transfer, Hongkong BDO international directly by the company holding 100% of the subsidiary to the company indirectly holding 100% of the subsidiary.

The company said, Zhuhai Elec-Tech main production and operation of the company's small household electrical appliances, Hongkong BDO international body is a small household appliances export business, the equity transfer matters is to rationalize the structure of small household appliances export business, the company is the integration of internal resources, optimize the governance structure needs to be cut, does not lead to changes in the company's consolidated financial statements that does not adversely affect the company's financial position and operating results, and will not damage the interests of company and shareholders.

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