Chau Ming Technology intends to raise 50 million overweight LED lighting

Non public offering plan Chau Ming technology released late October 27th, the company intends to price 1 yuan / share non-public offering of stock raising not more than 50 million yuan, the net of issuance costs will be used to supplement the company's liquidity.

Plans show that before the transaction, the controlling shareholder of the company and the actual control of man-made forest Mingfeng mr.. As of October 15, 2014, Mr. Lin Mingfeng holds 92606727 shares of the company, accounting for the total share capital of 45.68%. In addition, Mr. Lin Mingfeng also holds Shenzhen City Qin Rui Investment Co., Ltd. 71% stake, Qin Rui investment company holds 10402766 shares, accounting for 5.13% of the total share capital of 7385964 shares of Lin Mingfeng indirect holding company, accounting for 3.64% of the total share capital. In summary, Lin Mingfeng together hold 99992691 shares, accounting for 49.32% of the total share capital. After the completion of the transaction, the controlling shareholder of the company and the actual controller is still Mr. Lin Mingfeng, the transaction did not lead to changes in corporate control.

The company pointed out that this non-public offering to optimize capital structure, reduce financial costs, enhance the ability to resist risks; at the same time, the financing to further enhance the company's capital scale and sustainable financing capacity, to provide financial support for the company to successfully achieve the strategic layout, is an important measure to enhance the competitiveness of the company, to achieve sustainable development. Through this non-public offering, the company's capital strength and market influence will further enhance profitability and anti risk ability will be enhanced.

Analysts pointed out that the non-public offering will help companies continue to overweight LED industry. Chau Ming technology is located in the terminal of the LED industry, belonging to the application field, the main LED HD display and LED lighting products. Since 2012, the company developed the UTV series of small pitch products, and the first in the industry to develop and launch 0.8mm small pitch LED display, as of now, the company in the field of road lighting products have been successfully developed a sixth generation of street lamp, street lamp, from the fourth generation has to support the intelligent light system, highly competitive in the market with high price.

From the market environment, LED lighting market fully open, the next 3-5 years will be the golden period of development of the industry. Incandescent ban plans the world's major countries and regions in batch takes effect in 2014, which directly contribute to the LED lighting market fully open, at the same time as the government of incandescent lamp driving policy, the European Union and the United States, the three largest China market growth accelerated, the global LED lighting penetration has been rapid improvement. In China, the national development and Reform Commission, Ministry of science and other 6 ministries jointly issued the "semiconductor lighting plan" clearly, to promote China's LED lighting industry output value of the average growth rate of about 30%, in 2015 reached 450 billion yuan.

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