"Summer of eventful" LED industry's investment merger and acquisition comes one after another.

In July, the LED industry was indeed a "summer of many events". The bankruptcy of goods one and the acquisition of CREE came one after another. In fact, various M & A events in the lighting industry have been in the ascendant. It has been reported that in the first half of the year, there were more M & A cases. For example, in June, riyd bought 100% stake in Zhongtian lighting with 350 million yuan RMB; in May, Zheng Ye technology made a price of 450 million yuan, and acquired the Hyun optoelectronics; in March, he bought the 80% stake in the era light source; in February, NVC acquired the 75% stake in YENENG Holdings limited. Some analysts have pointed out that with the rapid development of China's lighting industry, the situation of oversupply is gradually showing up and overcapacity. The development trend of the future lighting industry will also be based on integration, and it will become bigger and stronger enterprises through mergers and acquisitions, and gradually eliminate competitive enterprises. The merger and acquisition of the lighting industry is going on fiercely. This is true without any deceit. After finishing by the think-tank, the following actions have generally appeared in the LED lighting industry in July. Through these frequent industrial events in early July, we try to understand the development and survival situation reflected by its development. Huaxan optoelectronic acquisition of new semiconductor in the evening of July 20th, is still in the suspension of huaxan photoelectric announcement, revealed that mergers and acquisitions Target Corp is the world's leading micro electromechanical (MEMS) sensor enterprise MEMSIC, INC. (USA) (Mei Xin semiconductor). The announcement shows that the company's initial restructuring plan is to buy assets for the issue of shares, that is, the underlying assets are harmonious core optical (Yiwu) Photoelectric Technology Co., Ltd. (SPV), which is purchased by SPV from the shareholders of Target Corp of this transaction by 100%. The controlling shareholder of the underlying assets of the transaction is Yiwu harmonious core optical equity investment partnership (limited partnership). The company has signed an investment framework agreement with SPV and its controlling shareholders, which has been reported to the Shenzhen stock exchange. The transaction price is determined on the basis of the 15 to 20 times price earnings ratio forecast by Target Corp in 2017, and the parties agree that the final transaction price shall be based on the assessment and confirmation price of the institution. In this transaction, the acquisition of Target Corp's 100% stake by SPV is a matter for Chinese enterprises to acquire overseas enterprises. It needs approval and filing of relevant departments such as the competent commercial department, the development and Reform Commission, and the foreign exchange management department. In July 18th, he realized that he agreed with the Au Optronics Co manager of Zhejiang Zhongzhou, signed the reorganization investment agreement, and proposed 40 million acquisition of Zhejiang Zhongzhou Au Optronics Co, which has entered the bankruptcy and reorganization of the court. According to the announcement, Zhongzhou optoelectronics is a bankruptcy reorganization enterprise ruled by the intermediate people's Court of Hangzhou. It was previously recognized as the benchmark enterprise of LED filament in the industry, and a leader in the technology and production process of LED filament products. Bankruptcy and reorganization. According to its own development strategy, LDA will be restructured as an investor to acquire the debtor, so that the existing shareholders of the debtor's shares will be allowed to hold 100% of the shares, paying a consideration of 40 million yuan. After the reorganization, the intelligent lighting control system of LLDA merged with the development, production and sale of LED filament in Central China, and integrated into the LDA's intelligent lamp control system in the Zhongzhou LED filament lamp technology, forming a complete intelligent light control system industrial chain, and quickly starting the market of intelligent LED lamp control. The layout of the whole industrial chain of the Internet of things will be greatly promoted, and the transformation and upgrading of the traditional LED light market will be promoted. Zhongzhou optoelectronics was founded in 2004, starting from a small packaging enterprise. Now, China has grown into one of the largest LED manufacturing enterprises in East China. Zhongzhou has strong research and development capabilities. In 2011, the company's ZL-SSL-SL05 type high reliability road lighting LED light source integrated module was listed as a national key product. The key technology of high efficiency ampere white LED industrialization in 2008 was selected in the National 863 plan. FSL even started three investments in the evening of July 19th, FSL continuously disclosed three investment announcements. These include the acquisition of shares of Nanhe company, the acquisition of Chan Chang company equity and joint venture to set up a main electrical products enterprise. While investing heavily in foreign investment, the company also disclosed a reduction plan to reduce the holdings of the national high tech stock, so as to return the funds and focus on the main business. The acquisition of Nanhe FSL uses its own capital of 180 million yuan to acquire a 32.85% stake in Shenzhen Nanhe Communication Industrial Co., Ltd. It is reported that Nanhe company produces and sells electronic products, communication products, plastic products, mold products, radio transmitting equipment, mobile phones (mobile phones), LED lighting products. Because Guangdong Electronic Information Industry Group Co., Ltd. is not only the controlling shareholder of FSL, but also the largest shareholder of Nanhe company. After the acquisition of 32.85% of the South and the company's holding by FSL Co., Ltd., FSL will form a joint investment relationship with electronic group in Nanhe company. FSL's independent director issued an independent opinion on the acquisition of shares. He believed that by acquiring 32.85% of the shares of Nan he company held by Bai Ya limited, FSL could share the profits brought by the renovation and transformation of the industrial zone in Buji Town, Longgang District, Shenzhen, and increase the income of the company. Source of benefits. Foshan Chan Chan electric appliance (Gaoming) Co., Ltd. is a joint venture invested by FSL in 2005. Its registered capital is 72 million 782 thousand and 900 yuan, FSL accounts for 70% shares, and Yu Chang lighting equipment Co., Ltd. accounts for 30% of the shares. In order to integrate FSL's internal resources and strengthen the management and resource utilization of Chan Chan company, FSL intends to acquire 30% of the Chan Chang company held by you Chang lighting equipment Co., Ltd. FSL said that the acquisition of 30% stake in Chan Chang company is conducive to further integration of resources, strengthening management and resource utilization of Chan Chan company, and enhancing the profitability of the company. After this acquisition, the company will wholly hold Chan Chan company. The announcement also showed that from the beginning of 2016 to the date of disclosure, FSL and Yu Chang lighting equipment Co., Ltd. and its affiliates accumulated 21 million 2 thousand and 100 yuan in daily related transactions. Zen Chang produces and operates lamps and lanterns, electric light source products and accessories, installation and consulting business of related projects. A joint venture was set up by the FSL electric company, FSL, to invest 25 million 500 thousand yuan, and jointly invested with other legal persons (or individuals) to set up "fo Zhao electrician Intelligent Control Technology Co., Ltd." (tentatively, based on industrial and commercial registration) (hereinafter referred to as "fo Zhao electrician company" or "joint venture company"), and the main business of the joint venture company. Electrical products for R & D, production and sale of electrical outlets, converters, switches and so on. FSL's external investment amounted to 25 million 500 thousand yuan, accounting for 51% of the joint venture company's share, and the management and backbone employees of the joint venture company invested 8 million 500 thousand yuan, accounting for 17% of the joint venture company. The strategic investors at the production end invested 10 million yuan, accounting for 20% of the joint venture company, and the strategic investors at the sales side contributed 6 million yuan, accounting for 12% shares of the joint venture company. All parties are funded in cash. FSL said that by developing and selling electrical products through investment, the company can enrich the product structure of the company and help the company further enhance its overall competitiveness and profitability, in line with the company's development strategy goals. The announcement of the proposed reduction of the national high tech stock shows that FSL's board of directors agreed to authorize the management to take bulk trading or centralized bidding from the date of the consideration of the motion by the board of directors until December 31, 2016. No more than 36 million 500 thousand shares, no more than 4.17% of the total share capital of the company. After this transaction, FSL's holdings of national high tech stock will drop to 36506150 shares, accounting for about 4.17% of the total share capital of the company. FSL's independent directors believe that the company's holdings of some of its stocks are in line with the actual development of the company, which helps the company focus on its main business, optimize its assets structure, ensure investment returns, and reduce risks arising from fluctuations in the capital market. Konka purchased Toshiba lighting in the middle of 7 months. Konka lighting officially launched a strategic cooperation and supply agreement with Toshiba Lighting Co., which mainly received the lighting business of Toshiba lighting in China in the form of share transfer and asset transfer, involving an amount exceeding 1 billion yuan. Through this agreement, Konka lighting has also obtained the right to use Toshiba lighting in the Chinese mainland and Hongkong market "TOSHIBA Toshiba" brand. It is reported that Konka lighting is a subsidiary of Konka Group's LED lighting industry. Konka lighting, through a series of integrated actions, intends to achieve sales targets of 2 billion yuan and 5 years 5 billion yuan in the next 3 years. Konka lighting and Toshiba lighting signed the above cooperation agreement as early as December 21, 2015. Konka lighting director told the author that the Toshiba lighting business has been integrated and has formally completed the personnel adjustment. Konka Group, as an old household appliance enterprise in China, officially entered the LED lighting industry at the end of 2008. In 2013, Shanghai Konka Green Lighting Technology Co., Ltd. For Konka's reception of Toshiba's lighting business in China, there are expert analysis. Konka Group has considerable capital flow and increased investment in profitable business, which is a normal move for the company's development. Abison ended the acquisition of Artixium in the evening of July 18th. Abison announced that considering the complexity and uncertainty of the transaction, the company decided to terminate the acquisition of Artixium DisplayLtd. (hereinafter referred to as "Artixium") 51% stake matters, and the decision to inform the transaction to the hand. As early as May 9th, Abison signed an investment memorandum with Artixium, and proposed to invest $4 million 500 thousand to acquire 51% of the original shareholders of Artixium. Statistics show that Artixium is a LED display manufacturer founded and owned by European shareholders and headquartered in Hongkong, China. It was founded in 2014. It mainly provides stadium screen, rental screen and other products. The core members of the Artixium R & D team are mainly from Europe, and Artixium has strong product design and innovation capability. Abison said that the termination of the acquisition will not affect the company's display products in the sports development in Europe and the United States. Future Ltd will seek the development of sports in Europe and the United States through endogenous development and extension. San an optoelectronic acquisition of universal semiconductor in July 14th, San an photoelectric said that the company's acquisition of universal semiconductor is under examination and approval, but whether it is approved or not is uncertain. San an optical is mainly engaged in R & D and application of III - V compound semiconductor materials. It focuses on GaAs, Gan, SiC, InP, AlN, sapphire and other new semiconductor materials, which are related to epitaxy and chip as the core industry, and can be divided into visible, invisible, communication and power conversion.