Dew 1 billion 150 million yuan acquisition of Miki Communications said the development is still focused on sapphire

According to the daily economic news reported that the suspension of more than 5 months of laughter Technology (002617.SZ) finally announced its restructuring plan.

On the evening of April 28th, the restructuring plan released by the dew laugh technology show that intends to share + cash acquisition of 100% stake in Miki communications, trading price of $1 billion 150 million. At the same time, the company has raised no more than 320 million yuan to raise matching funds.

It is worth mentioning that roshow technology had that will be overweight on the sapphire industry investment, this time to be heavily involved in the acquisition of Sanmu communication, whether this means that the direction of the business adjustment? April 29th, dew smile technology secretaries Chen Tao Lee told reporters that the future is still the focus of the development of sapphire, the acquisition of the communications itself in line with the transformation of its own high-tech manufacturing diversification of the road of Miki.

Wholly acquired new company

According to the above plan, dew laugh technology intends to 23.14 yuan / share, non-public offering of about $42 million 242 thousand and 900, and paid $172 million 500 thousand in cash, a total price of $1 billion 150 million acquisition of Miki communications of the equity interest of $100%. At the same time, the company intends to 20.52 yuan / share, to roshow group, Kaixin investment, bay six investment, Fuxing Zhengyang non-public offering of shares to raise funds not more than 320 million yuan.

Miki said the plan, communication is a tablet computer, intelligent mobile phone design and machine production services, and mobile communication technology based on network communication products R & D and production of high-tech enterprises, Miki is committed to mobile communications product development, design and manufacturing services, has a complete R & D, production and quality management system. The main products include, with call function tablet computer, intelligent mobile phone, car networking application communication module and other Internet communications products, mainly exported to overseas markets.

Data show that as of 2015 3 at the end of the month, Mu communication total assets of 560 million yuan, net assets of 185 million yuan, the 2013 and 2014 annual achieved operating income of 893 million yuan, 1 billion 536 million yuan, net profit of 44 million 205 thousand and 500 yuan and 73 million 317 thousand and 700 yuan respectively.

At the same time, Miki communications as of March 31, 2015, the unaudited financial statements of the shareholders' equity book value of about 185 million yuan, the estimated value of approximately 1 billion 150 million yuan, compared with the estimated value of the book value of about 965 million yuan, the estimated value appreciation rate of 521.62%.

"The purchase price in accordance with the fair market value," Li Chentao said, after years of development, Miki has a communication intelligent terminal application technology development capabilities, and in the manufacturing process, cost control, quality control, fast response and other aspects of the formation of the core strengths, at the same time, Miki communication itself has a manufacturing intelligent terminal equipment a complete industrial chain, coupled with the current Miki in car networking communication module and other intelligent terminal sales income increasing.

The plan also shows that all shareholders of Miki communications commitment, 2015 years of communications in, the year after year and the year after deducting non recurring gains and losses in the number of net profit of not less than 100 million yuan, respectively, $115 million and $132 million 2016.

Sapphire involvement

For this acquisition, roshow technology said in the announcement, after the completion of the acquisition, Miki communications will become a wholly owned subsidiary of roshow technology, intelligent terminal equipment to the tablet computer and smart mobile phone as the representative of the company's future profitability is expected to become an important growth point. At the same time, the company will pay close attention to the trend of development of the Internet of things industry, support Miki communications networking industry will become the company's other core industries.

Dew smile technology 2014 earnings report, its full year operating income of 2 billion 648 million yuan in 2014, down by 2.98%, attributable to shareholders of listed companies net profit of -3913.82 million, down by 202.70%. Reporter comparison of the company's annual report a few years ago, the company's performance in recent years is a loss for the first time, the company said, mainly due to market demand downturn.

However, this situation or will be improved, roshow technology released results notice, the company's first quarter profitability year on year performance, the first half of this year yejiyuzeng 116.63%-224.94%.

It is worth noting that, in April 27th, the acquisition before the announcement, roshow technology chairman Lu Yong online results that will represent the company, this year will focus on the adjustment of industrial structure, expand the aluminum product market, and increase the sapphire industry input, moderately diversified development.

Li Chentao to reporters, after years of development, the company has a line of processors towards traditional electromagnetic electromechanical, turbocharger, sapphire, acquisition of Mu communication accords with roshow technology transformation manufacturing high-tech diversified road.

However, the market is concerned about its sapphire business. 2014, dew laugh science and technology invested 200 million yuan and Bourne optical joint venture to set up a company in the United States, Bourne laugh sapphire company (the company accounted for 40%), involved in sapphire industry. And its partner Bourne optical is one of the world's largest screen glass processing equipment manufacturers, its screen glass products accounted for 30% of Apple's equipment supply, accounting for Samsung's $20%. In addition, Bourne optics for NOKIA, Lenovo and other companies to provide screen products.

It is reported that, as of now, roshow Technology 200 sapphire crystal growth equipment has been put into trial production, Li Chentao said, to avoid competition, the company will soon roshow photoelectric operating assets into Bourne roshow company.

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