Stripping the LED business, Guangdong Ganhua 687 million yuan listed on the transfer of German photoelectric

Today morning, Guangdong Ganhua announcement, in September 12, 2017 the company held the eighth meeting of the twenty-sixth board of directors approved "on the transfer of publicly listed subsidiary of Guangdong Deli photoelectric Co., Ltd. 100% equity and debt motion", the company agreed to transfer property exchange publicly listed by a wholly owned subsidiary of Guangdong Deli electronic Co. Ltd (hereinafter referred to as "Deli photoelectric") 100% equity and 231 million 841 thousand and 900 yuan of debt.

According to the announcement, as of the valuation date 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. As of December 31, 2016, the company of Germany photoelectric enjoy 231 million 841 thousand and 900 yuan debt. The above assessment results as the reference, as the underlying asset is publicly listed on the transfer of the starting price of the total price of 686 million 664 thousand and 600 yuan, of which Germany photoelectric 100% stake at a price of 454 million 822 thousand and 700 yuan, the company enjoys the debt at a price of 231 million 841 thousand and 900 yuan.

It is understood that the German photovoltaic business scope includes: LED wafer, chip R & D, production and sales; LED technology development, technology transfer and technical advisory services.

The company 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 direction strategic planning, not with the company's Deli photoelectric synergistic effect. After the completion of the transaction, the company will no longer hold Germany Germany photoelectric photoelectric stake, will no longer be included in the consolidated financial statements of the company.

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