The quasi 190 million peel international lighting business focus of domestic LED business

The 11 evening announcement, in order to better focus on the domestic LED business, the international lighting business assets accumulated to a wholly owned subsidiary of BDO (Hongkong) Photoelectric Technology Co. Ltd., and intends to hold Hongkong BDO photoelectric 100% stake sold to China high-tech sacrificial jade Industrial Investment Fund (limited partnership).

Notice that the fund will transfer ownership of sacrificial jade target company by way of cash, the transaction price of 190 million yuan. It is reported that the fund is a sacrificial jade in accordance with the laws of the Cayman Islands set up the exemption of limited partnership funds, fund size of approximately HK $640 million. State asset management (Asia) Limited as a general partner (GP) invested HK $100 thousand, the remaining funds raised to third parties, as a limited partner (LP).

The business structure adjustment is completed, an international lighting business assets

Statistics show that Hongkong BDO photoelectric 2015 revenue of 480 million yuan, net profit of 25 million 800 thousand yuan; 1-9 months of 2016, revenues of 400 million yuan, net profit of 45 million 730 thousand yuan, a substantial increase over last year. As of September 30th, Hongkong BDO optoelectronics after audit by the carrying value of the net assets of -540.76 million yuan, using the income method of assessment value of 190 million yuan, to assess the value of 195 million yuan, value-added rate of 3613.57%.

The Hongkong BDO Optoelectronics (including its subsidiaries controlled) major financial data in recent years and stage

Elec-Tech has pointed out, the way through the sale of a subsidiary equity stripping international lighting business, the company is a reasonable adjustment according to the actual operation of the lighting business, has focused on the advantages of resources to the company, to better focus on the bigger and stronger domestic lighting business. It is expected that through the sale of equity can bring 195 million yuan (pre tax) earnings, but the recognition of the sale of such equity income to be audited after the results of the annual audit shall prevail, there is still uncertainty.

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