Capital invasion M & a frequent LED industry hi or sad

2014, the capital once again invasion of the LED lighting industry, resulting from the acquisition, mergers and acquisitions, joint ventures and other capital operations increasingly frequent. However, in this process, the successful marriage, there are also a lot of sad ending. Or hi or sad, reproduction market mirror.

[review] with the full acquisition of the event "zhenminglee cleaning exemption" has not been passed

Neoneon June 11th Jiangmen Hongkong LED enterprises listed on the announcement, neo-neon shares to the same party supporting 1 billion shares of the motion has been through the special meeting of shareholders, but the relevant approval "offer a comprehensive cleaning exemption" has not been passed, opposition votes accounted for 68.76%, which shares the same side is considering whether the subscription. According to the Hongkong company acquisition regulations, when the listed company acquired a controlling stake in a listed company, shareholding increased to a certain proportion, will trigger the Hongkong stock exchange offer, which is in the same subscription price to the small shareholders issued a tender offer. In order to avoid triggering a full acquisition, the need to apply for cleaning exemption". As a result of cleaning exemption has not been passed, the subscription side with the shares are considering whether to subscribe. It is reported that Kerry plans to increase the proceeds of 900 million yuan, used in Chinese and the global LED lighting market in the future development of the business scale, and the potential future investment or acquisition opportunities.

Comment: "cleaning exemption" did not pass the zhenminglee lost CBBC line

It is reported that Tongfang has established LED chip, wafer production base in Jiangsu Nantong, and has formed a 59 MOCVD chip and supporting the production capacity of the production line, but shares the same side in terms of lighting products to increase investment, expand the scale of. In recent years, industrial mismanagement is the main reason for management is extensive, random, foreign investment bank financing capacity is weak, but it has certain advantages in brand, market and production capacity. Therefore, through capital zhenminglee take control of it, can make the shares the same side by means of industrial production capacity, brand influence and product export sales channels, combined with the company's chip manufacturing technology, rapid development and improve the competitiveness, Tsinghua Tongfang semiconductor lighting industry. At the same time, shares the same side can also be management team and management concept, improve the management level, industrial input, improve management status.

An industry source said that shares the same side to 900 million Hong Kong dollars bought a controlling stake in industrial is an important step to share the same LED business layout of external expansion, will become the future industrial capital operation platform with LED business department. From a fundamental point of view, the current financial data zhenminglee, but its overseas channels, brand and resources is the same party that is valued.

[event] review rectangular lighting more than 500 million "acquisition" Kang Ming Sheng 60% stake

The suspension of rectangular lighting for more than three months of the June 20th announcement of the draft reorganization of assets, intends to "equity + cash" to buy Li Dichu, Li Yinghong, Nie Wei and other 29 individuals held a 60% stake in Kang Mingsheng, 528 million yuan of total transactions.

From the business point of view, Kang Ming Sheng LED focused mobile lighting application products research and development, design, production and sales, the downstream application industry belongs to the LED package, is an important part of semiconductor lighting industry, as a national strategic emerging industries. Rectangular lighting is committed to promoting the development of LED in the lighting field, the business is focused on LED lighting device package, and then from the upstream to the downstream extension of lighting applications, mainly engaged in LED lighting devices and lighting products LED lighting research and development, design, production and sales.

Industry analysts pointed out that the acquisition for rectangular lighting downward extension of LED industry chain, the layout of LED mobile lighting applications market, optimize the product structure, to form a more anti risk ability of the industrial layout plays an extremely important role.

Exclusive response: complementary resources and win-win cooperation

Huang Jinzhang, general manager of rectangular lighting

For the use of the media coverage of the acquisition and the like, I prefer to cooperate two words. Our cooperation between the two is to be able to better use their own platform to achieve complementary quality resources, common cause bigger and stronger. Rectangular lighting chose Kang Mingsheng, Kang Mingsheng first because this company is very healthy, and its sales channels, improve the mechanism, especially the hardware channels and sales channels, the vertical integration of the enterprise, is to be of great advantage.

For rectangular lighting, we have to do is to continue to work hard, do their own. At present, our product line integration has been in place in the second half, we will convene a general meeting of agents, dig channels, strengthen team building, so that the rectangular lighting go further.

We also noted that, at present, the lighting industry capital operation more frequent acquisitions, mergers and acquisitions and other cases are increasing. But in my opinion, the direction of development of each enterprise is different, in the development stage is also different, and therefore more of their own choice. Enterprises want to achieve multi-channel, diversified, multi-level development, relying solely on their own strength is difficult to match, which requires companies to go out, integrate resources, work together to develop.

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