Sea King intends to acquire 1 billion 170 million stake in Shanghai music to develop a special environment lighting market

The Wang Zhaoming 22 evening announcement, the company intends to combine through the issuance of shares and cash to the purchase of Zhejiang, Shanghai 51% equity, the transaction amounted to 117 million 300 thousand yuan, the transaction price of 51% shares, the cash price of 49%. The issue of shares issued by the purchase of assets of 2652904 shares, the issue price of not less than 22.55 yuan / share. To pay cash for the transaction price and related costs, the company intends to inquire the way to no more than 10 specific non-public offering of shares to raise matching funds, the total funds raised not more than 59 million 823 thousand yuan is expected. After the completion of the transaction, Zhejiang, Shanghai Yue became marine Wang Zhaoming's holding subsidiary.

Zhejiang Shanghai Lok founded in 2006, is a professional engaged in marine lighting research and development, manufacture, sale and comprehensive technical services, with national defense industry qualification matching enterprises. Zhejiang Shanghai music the main products include: the ships with fluorescent lamps, fluorescent lamps, explosion-proof ship for ship navigation signal lamp, incandescent lamp, stainless steel explosion-proof explosion-proof lamp, electrodeless lamps and series of lamps and related electrical equipment control for ship and ship LED lamps.

According to the announcement, Zhejiang Shanghai Yue 2016 operating income of 82 million 330 thousand and 700 yuan, net profit of 11 million 614 thousand and 400 yuan. As of December 31, 2016, the total assets of Zhejiang Shanghai and Lok assets was 119 million 378 thousand and 200 yuan, and the total liabilities amounted to 91 million 491 thousand and 700 yuan.

Main financial data of Zhejiang and Shanghai Music

Through the acquisition of the target company, the ocean king will increase its products in lighting ship special environment variety, and increase it in the civil and military ship auxiliary lighting products market share, with the listed company to strengthen the strategic direction of market development of shipbuilding industry of special environment lighting. Due to the similarity of industry and technology, easy to form a synergistic effect of the target company and the king of the ocean, the ocean King rich special environment lighting product line, helps to expand the product lighting ship special environment customer base, and to build a ship special environment lighting products research and development and production of the core competition ability, win the special military ship environmental lighting products market share, the company's main business and new business development, involving two-way fusion target.

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