Focus off grid lighting, a group intends to purchase 600 million stake in Kang Ming Sheng 35.7454%

8 evening, a group (hereinafter referred to as "the company") announced that the company in December 8, 2017 with Li Dichu, Li Yinghong, Nie Wei and other 29 individuals signed the "share transfer agreement", Li Dichu, Li Yinghong, Nie Wei intends to buy in the self financing 29 natural persons (hereinafter referred to as "counterparty") held by Kang Mingsheng (hereinafter referred to as "the company") 35.7454% of the shares, by mutual agreement, subject of the estimated 100% equity value of 1 billion 680 million yuan, equivalent to the price of 15.65 yuan per share, 35.7454% stake in the corresponding transaction price of 601 million yuan (assets assessment agencies assessment to determine the final transaction price in order to have the qualifications in Securities and futures of the subject based on the value, negotiated by the parties to the transaction).

The other side of the transaction, the company's directors, supervisors Li Di appointed Nie Weiren, Li Dichu and persons acting together hold 9.71% stake in the company, the transaction constitutes a connected transaction.

According to the announcement, Kang Ming Sheng 2016 year 1-6 month 2017 achieved operating income of 1 billion 18 million 986 thousand and 700 yuan, 526 million 227 thousand and 500 yuan, net profit was 138 million 952 thousand yuan, 65 million 501 thousand and 900 yuan. Counterparty commitments underlying the company from 2018 to 2020 after deduction of non net profit attributable to shareholders of the parent company reached 125 million yuan, 140 million yuan, 155 million yuan.

The Kang Ming Sheng last year a major financial data

A group has completed in 2015 on the Kang Mingsheng acquisition of 60% stake, after the completion of this transaction, the company holds shares of Kang Ming Sheng will increase to 91.6238%, will enhance efforts to control Kang Mingsheng, so as to improve decision-making efficiency, accelerate the fusion to further optimize the downstream industry chain business, synergy deepen the company with Kang Mingsheng.

A group said that after the completion of this transaction, the company's profitability and earnings per share will be improved; in addition, through this transaction, the company will further strengthen the main business, focusing on the "off grid lighting", the company continued to practice the "energy saving and environmental protection, green lighting" concept.

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