KingSun shares LED lighting business to control one of the

In 2016, KingSun shares merger Longwen education, the company also usher in two main layout. At the end of May 2017, KingSun shares had announced that intends to release for semiconductor lighting business revenue 92%.

Now, the sale is making new progress. In July 8th, KingSun shares said, preliminary plans for the semiconductor lighting business related assets and liabilities in cash sold to Ms. Wen Qi (or its designated third party). Wen Qi is one of the actual control of shares on the ground.

Reporters noted that the company had been reported by the Shenzhen stock exchange for the sale of its main business. In addition, the ground group due to raise funds for the lower part of the company's stock pledge closing line, the introduction of 2 investment institutions. As of July 3rd, the two investment institutions did not actually contribute.

Because of the sale of the main business was the Shenzhen Stock Exchange inquiry

In July 8th, KingSun shares announced that the preliminary plan for the semiconductor lighting business related assets and liabilities in cash sold to Ms. Wen Qi (or its designated third party). Wen Qi is one of the actual control of Qinshang shares, the company expects the transaction may constitute a connected transaction.

KingSun shares said, this transaction for cash, are not expected to result in changes in the actual control of the company, but the transaction specific program has not yet been finalized, the ultimate impact on the actual control of the company to determine the final trading scheme. At present, the company has signed the letter of intent on the transfer of assets with Ms. Wen on the transaction. However, the specific transaction scheme has not yet been finalized, and the formal agreement has not yet been signed.

It is understood that the letter of intent is not exclusive. After the letter of intent signed, KingSun shares still on the underlying assets for the intention of the transferee or through auction disposal of assets.

Reporter noted that the shares have been previously on the ground by the sale of business income accounted for more than 92% of the semiconductor lighting business and the Shenzhen Stock Exchange was questioned.

In July 7th, KingSun shares reply Shenzhen inquiry letter said that the semiconductor lighting industry after a rapid development in recent years, the speed of development in recent years continued to slow down. There are many enterprises, high cost, profit space narrowing, relative overcapacity, price war industry, the current industry status. Affected by this, in the past two years, the company's operating results in the semiconductor lighting industry has shown signs of a certain decline. The company intends to divest the semiconductor lighting business for the focused companies's superior resources into the education sector.

In addition, KingSun shares the view that, in the semiconductor lighting stripping assets, the company's remaining education net assets will not be negative, and the semiconductor lighting divestiture theory does not appear to have a significant adverse impact on net assets, it will not cause the company next year period at the end of the negative net assets and delisting risk warning.

KingSun shares said, according to estimates, is expected to net profit attributable to shareholders of the parent company of Longwen Guangzhou in 2017 compared to the year 2016 will have a certain growth rate.

The 2 investment institutions introduced by the controlling shareholder have not actually contributed

Previously, the media reported, has suspended planning a new major asset reorganization two Qinshang shares, with the Longwen education performance is not up to expectations and other bad news, on April 25, 2017 to resume trading. Resumption day, KingSun shares have been lying in the daily limit.

The evening of April 25th, KingSun shares announced that, due to the controlling shareholder KingSun group, the actual control of Li Xuli and its associated Li Shuxian part of the pledge of stock to open line, the company to apply for suspension since April 26, 2017 opening.

The evening of May 17th, KingSun shares announcement that Qinshang group has conducted a capital increase, to raise funds to reduce the mortgage related stock open line. Public data shows, the new registered capital by Beijing KingSun group far investment management limited liability company (hereinafter referred to as Beijing and Nanjing are far) pure joy management partnership (hereinafter referred to as Nanjing pure Wyatt) capital contribution. The two companies were given Qinshang group 40 million 883 thousand and 300 shares, the shareholding ratio is 25.5%.

The previous total holdings of 100% stake in the group of Qinshang Li Xuliang, Wen Qi couple shareholding ratio declined sharply. Among them, Li Xuliang holds the ground group equity ratio decreased from 90% to 44.10%. Wen Qi stake dropped from 10% to 4.90%. Two of the total shareholding of only 49%.

However, in July 4th, KingSun shares also made the announcement that Beijing and Nanjing are far from pure Wyatt shall fulfill the obligation of capital contribution of Qinshang group in June 30, 2017, but as of July 3rd, the two companies are not actual investment.

KingSun shares also said in reply to the Shenzhen enquiry: at present, Li Xuliang has signed an agreement with the part of the financing side, effectively reducing the partial liquidation risk. But the company does not rule out the pledge of shares KingSun group exist in the future may be liquidated, which led to the controlling shareholder of the company and the actual control of a person change risk, the company will pledge on the matters KingSun group will continue to be concerned about, and continue to fulfill obligations related to information disclosure.

In July 7th, reporters call on relevant issues KingSun shares secretaries office. A staff member said that the interview will be forwarded by secretaries reply. But as of press time, the reporter has not yet received a reply.

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