2014:LED industry mergers and acquisitions golden age"

If 2013 is the LED industry, the first year of mergers and acquisitions, then in 2014 can be regarded as a merger blowout year". According to LEDinside incomplete statistics, this year's LED industry mergers and acquisitions cases more than 30.

M & A has become an important means for enterprises bigger and stronger, even is the only proper course to take. Especially in the context of the LED industry IPO blocking, how to use the capital market for industrial integration has become increasingly urgent, no longer seek depth cooperation, which is the difference between waiting for death. The integration of the industry trend of feudal lords vying for the throne has just begun.

Table 1:2014 mergers and acquisitions in the first half of LED industry

Table 2:2014 the second half of the LED industry mergers and acquisitions case

The "shock" of the merger: crystal electric acquisition canyuan

In June 30th, EPISTAR and canyuan photoelectric synchronous meeting of shareholders is to be announced through the convertible merger, 3.448 shares for every 1 shares of crystal electric canyuan renewal. This news came out, the industry sensation. Before October 2012, Sanan optoelectronics canyuan shares and 19.77% shares to become the first major shareholder canyuan.

Taiwan EPISTAR growth history, along the way through a number of successful mergers and acquisitions, the integration of high-quality resources in Taiwan LED chip industry, and ultimately create a globally competitive chip enterprises. It can be said that the growth history of crystal electricity, is almost a history of mergers and acquisitions. The crystal electric acquisition canyuan, also indicates that the epitaxial chip has gradually entered the era oligarchs. Throughout the continental epitaxial chip pattern, the final only 35 epitaxial chip factory, the rhetoric seems to be grandstanding, but the trend is more obvious hengda.

The nouveau riche acquisition: Feile audio acquisition Shenan group

In July 29th, announced that the acquisition of audio in the background of 1 billion 590 million yuan Shen an 100% stake in the group. According to the data, Shen'an group in 2014 is expected to net profit of 136 million yuan, calculated according to the assessed value of 1 billion 590 million yuan, the acquisition of the Feile audio visual Shenan group for 11.7 times earnings. While Beijing Founder Electronics to acquire up to 10.21 times earnings, the liard JINDA lighting acquired for 9 times earnings.

The outstanding performance of the lighting application of enterprise has become the best object of mergers and acquisitions of Listed Companies in the field of LED, once fell down the big three LED Lighting Group acquired 60% stake in the company, Jiawei shares received 120 million yuan on lighting, KingSun also announced that by the end of no more than 300 million yuan to control unit three lighting company.

The most misappropriation of the concept of restructuring: Southwest Pharmaceutical turned sapphire supplier

Southwest Pharmaceutical Pharmaceutical stocks turned sapphire stocks, because the 100% stake in the estimated value of approximately 4 billion 120 million yuan in Harbin Austria Reed photoelectric into Southwest Pharmaceutical and realize the backdoor listing, Southwest Pharmaceutical shares since August 12th since the resumption of 7 consecutive trading days.

Mergers and acquisitions in the field of sapphire will continue. Dongxu photoelectric in the form of capital increase and conversion of the acquisition of 50.5% stake in Jiangsu Jetion new material.

The "smooth" merger: Jiawei shares and on March July, "a" lighting "wedding"

In March 2014, the major shareholder of Jiawei shares and products lighting on cooperation between the two sides of the initial negotiation and consultation. April 21st, the two sides signed a merger and acquisition framework agreement, initially agreed to the company's shares and cash on the acquisition of 100% stake in the lighting. July 16th, officially announced the completion of the acquisition. Progress fast, greatly unexpected.

"March, July" big love "marriage", the combination of the two sides really can be called "flash marriage". In contrast, between the party and the "Neo romance" is not so smooth". In order to avoid triggering a full acquisition, the parties need to apply for cleaning exemption, but has not been passed, the opposition votes accounted for 68.76%. In addition, the restructuring plan honglitronic smalite acquisition also once was not, had to terminate reorganization by the combination of the issue of shares and cash payments to acquire anmao collar and other natural person holding its 100% stake in the success, to all of the acquisition in cash.

The wayward merger: honglitronic Zhenjinbaiyin buy smalite

How to maintain the steady growth in the fierce market environment in the peer still worried, "package industry upstart honglitronic already through the merger of several companies into its.

The acquisition of Guangzhou Buddha signal homeopathy into the automotive lighting industry; acquisition and capital Ying yuan, to bait the strategy for engineering lighting; honglitronic 2014 merger did not stop, originally expected to private placement and to raise matching funds, to 180 million yuan acquisition of Shenzhen smalite peer companies, but because of change of equity the disclosure is not clear and is not received by the commission. The thought that the merger would therefore die, honglitronic October 13th announced the acquisition of 170 million yuan in cash smalite 100% stake.

This seems to be the network of hot words: money is capricious. Overbearing

In the packaging field, in addition to honglitronic willing to throw money to make acquisitions, several acquisitions are also worthy of attention, REFOND Ling Tao photoelectric buy 15% of the shares, the acquisition of 60% stake in rectangular lighting Kang Ming Sheng, Mason technologies acquisition date photoelectric 100% stake, Lehman photoelectric acquisition apexls electronics, heroic Ruifeng 51% stake, source Lei was Furi Electronics Technology 51% stake acquisition, this idea or several mergers and acquisitions are complementary advantages, or a combination, accelerate into the application to open sea.

Mergers and acquisitions intensified trend, LED industry has evolved from the thorns into a big fish eat small fish, the market is expected to further increase the concentration of the future.