Listing transfer failed, Guangdong Gan Hua Deli photoelectric 27% discount to sell

Because the first listing did not collect the intention of the transferee, Guangdong Gan Hua will once again listed on the transfer of a wholly owned subsidiary of Guangdong Deli Electronic Co. Ltd (hereinafter referred to as the "Deli photoelectric") 100% equity and related debt, listing price is a discount of 27.18% for the first time.

Guangdong Ganhua October 12th evening announcement, the company in September 30th this year, the German photoelectric 100% equity and related debt Commission South of the joint property rights trading center for the first time publicly listed, the listing price of 686 million 664 thousand and 600 yuan, the listing announcement period from September 30, 2017 to October 12, 2017. However, as of October 12, 2017, during the listing did not collect the intention of the transferee.

Guangdong Ganhua company said that in October 12, 2017 the convening of the eighth session of the twenty-seventh meeting of the Board considered and adopted the "on the total price of 500 million yuan for a starting price of re listed on the transfer of German photoelectric 100% equity and debt related bill", in order to determine the total price of 500 million yuan to 231 million 841 thousand and 900 yuan Qipai price listed on the transfer of creditor's rights to deli photo 100% equity and the company enjoy the equity transfer to the transferee to discharge the debt of 231 million 841 thousand and 900 yuan of German power company photoelectric as the prerequisite, the listing announcement period from October 13, 2017 to October 19, 2017. If the public solicitation, two or more than two qualified transferee, the transferee will determine the bidding way through the network.

It is reported that the German optical was established in September 2011, registered capital of 100 million yuan, the business scope covers LED wafer, chip R & D, production and sales; LED technology development, technology transfer and technical advisory services. As of the valuation date of December 31, 2016, Germany photoelectric the book value of the net assets of 422 million 677 thousand and 700 yuan, the assessed value of 454 million 822 thousand and 700 yuan.

Guangdong Gan Hua said, since Germany was founded, photoelectric production, operating efficiency has been unsatisfactory, with the LED industry competition, small and medium-sized manufacturers increasingly harsh production environment, Germany photoelectric operating performance has caused a greater burden on the financial situation of the company; on the other hand, the company has made it clear to the health sector for business transformation the direction of strategic planning and the company cannot de force photoelectric synergistic effect.

Back to check the recent relevant results announcement, Germany photoelectric since 2014 put into operation after the operation situation is not ideal, the project production of LED epitaxial films began in the second half of 2014 put into operation in the first year of production does not meet the schedule. Since January 2015 to June, mass production is the photoelectric de force listed companies to halt. In 2014, net profit in 2015 Germany photoelectric were -2075.64 million, -5933.99 million yuan. In 2016, the annual operating income of 63 million 421 thousand and 200 yuan, but the net loss rate increased to 92 million 821 thousand yuan. The first half of this year, business although the situation has improved, but there is still a loss of 16 million 446 thousand yuan.

Guangdong Ganhua in September 13th's announcement said, if this is to assess the price lower than the sale of German photoelectric equity and related debt, although the company will bring a certain degree of loss, but can avoid long-term adverse effects of de force photoelectric continued losses caused to the company, will help the company to further focus on industrial restructuring and development.

The Guangdong sweet really can do, LEDinside will continue to monitor the situation. (text: LEDinside Nicole)

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