"Eventful summer", LED industry investment mergers and acquisitions ensued

July, LED industry also really be called a eventful summer". A bankruptcy, CREE acquisition case ensued, making a very lonely. In fact, the lighting industry's various mergers and acquisitions incident has been in the ascendant, some statistics, only the first half of the year, there have been more than a major M & a case. For example, in June, Riyadh acquired 100% stake in sky lighting for 350 million yuan; May, science and technology at a price of 450 million yuan acquisition of Hyun Seok photoelectric; March, Linsen bought a 80% stake in February the era of light;, NVC acquired yaoneng Holdings Limited 75% stake...... Some analysts have pointed out that with the rapid development of Chinese lighting industry, the oversupply situation gradually appears, overcapacity, the future development trend of the lighting industry will also be integrated, while stronger enterprises through mergers and acquisitions bigger, while phasing out the competitive enterprises. Lighting industry mergers and acquisitions is fierce, it is simple, after the gentleman think tank arrangement, below generally presents in July so far, in our LED lighting industry in a series of investment, reduction, merger and purchase (termination) of the latest action. Through these frequent events in early July, we try to understand the current situation of the development and survival reflected by their development. HC semitek MEMSIC semiconductor acquisition of the evening of July 20th, still suspended in the HC semitek announcement, said the acquisition Target Corp is the leading global MEMS sensor (MEMS) MEMSIC (USA), INC. (MEMSIC semiconductor). Announcement shows that the company is currently the initial restructuring plan for the issue of shares to buy assets, namely: the underlying assets for the harmonious core optical (Yiwu) Photoelectric Technology Co. Ltd. (hereinafter referred to as "SPV"), from the SPV to the transaction of the Target Corp shareholders to buy 100% stake in the Target Corp. The controlling shareholder of the transaction is the Yiwu harmony equity investment partnership (limited partnership). The company has signed an investment framework agreement with SPV and its controlling shareholder, which has been prepared for the Shenzhen stock exchange. The transaction price is determined by the Target Corp's 2017 forecast of 15 to 20 times the earnings of the company. The price earnings ratio is determined on the basis of the valuation, and the parties agree to the final transaction price in order to evaluate the price confirmed by the agency evaluation. In this transaction, the underlying assets of SPV acquisition of 100% stake in the Target Corp for matters China firms to buy overseas, to the competent departments of Commerce, development and Reform Commission, the foreign exchange administrative department and other relevant departments of the approval and filing, the transaction has not yet been performed to the relevant department for examination and approval procedures. The acquisition of LSD Zhongzhou photoelectric July 18th, Zhejiang Zhongzhou said LSD is consistent with the Au Optronics Co management consultation, signed the "investment agreement" reforming, and intends to acquire 40 million has entered the court bankruptcy reorganization of Zhejiang Zhongzhou Au Optronics Co. Announcements, Zhongzhou photoelectric is the enterprise bankruptcy reorganization of Hangzhou City Intermediate People's court ruling, the company before the LED filament industry recognized benchmark enterprise, technology, production process of LED filament product leader, due to a problem which the company can not operate normally in the introduction of external investment institutions in the process of entering the court bankruptcy reorganization. According to its own development strategy, LSD intended as investors to buy the debtor reforming, the proposed transferee 100% stake in shares held by existing shareholders of the debtor, to pay for the price of 40 million yuan. After the completion of the reorganization, LED filament intelligent lamp control system and the LSD Zhongzhou of the development, production and sales of industrial merge into lierda intelligent lighting control system in the universe LED filament lamp technology, intelligent lamp control system complete industry chain, quick start intelligent LED lighting control market. For the company's Internet of things system, the layout of the entire industry chain will be a great boost, and led the transformation and upgrading of the traditional LED lamp market. Established in 2004, China Optoelectronics Corporation started from a small packaging enterprise. Now, China has grown into one of the largest LED manufacturers in East china. China's R & D strength is very strong. In 2011, the company's ZL-SSL-SL05 type high reliability road lighting LED light source integrated module was listed as a national key product. In 2008, the research on Key Technologies of high efficiency amp grade white LED industrialization was selected as the National 863 program. FSL and three investment in the evening of July 19th, FSL unveiled three consecutive investment announcement. Including the proposed acquisition of the South and the company's equity, intends to acquire equity interest in Zen Chan, as well as joint venture to set up a major electrical products enterprises. At the same time a large amount of foreign investment, the company also announced a reduction plan, intends to reduce the holdings of state-owned hi tech stocks, in order to return funds, focusing on the main industry. Acquisition of the South and the company, FSL use its own funds of 180 million yuan to acquire 32.85% of the shares of Shenzhen South Communications Industry Co., Ltd., held by Accor ltd.. It is learnt that the South and the company production and operation of electronic products, communications products, plastic products, mold products, radio transmission equipment, mobile phones (mobile phones), LED lighting products. Because Guangdong Province Electronic Information Industry Group Co Ltd is the controlling shareholder of FSL, and is the largest shareholder of the South and the company, the acquisition of FSL Ya hundred Holdings Limited South and 32.85% of the shares of the company after the completion of the FSL Electronics Group and in the South and the associated company formed a joint investment relationship. FSL's independent director of the acquisition of shares issued an independent opinion that FSL through the acquisition of Accor has