M & A Case plans to buy 51% shares in Hangzhou

Jing Sheng Electrical (300316) April 9th evening announcement, the company intends to change the raised funds project of annual output of 25 sets of FZ Silicon Single crystal furnace construction project ", the use of which 138 million yuan for the acquisition of Hangzhou for photoelectric technology Limited by Share Ltd 51% shares. Company shares resume trading on April 10th.

Jing Sheng Electrical said that the company plans to use the raised funds to purchase land and build factories, the implementation of the "annual output of 25 sets of 8 inches of zone melting silicon single crystal furnace construction projects", but the land acquisition and construction period is longer, can not adapt to the fast changing market demand. In recent years, with the rapid development of industrial robots and other intelligent equipment and technology and labor costs continue to rise, the industry machine substitutions is the trend. As a typical labor-intensive industry, LED has a huge market space in the upper, middle and lower reaches of the world.

Jing Sheng Electrical said it will be based on the original photovoltaic and semiconductor crystal growth and processing equipment industry, growth, active layout sapphire crystal materials and LED substrate processing industry based on 4 intelligent equipment and services. As for the photoelectric business covers machine vision equipment, LED industry, precision instruments, LED lamp automatic production line, production equipment and many other segments of wisdom, full coverage of the LED industry, the downstream industry chain. Its business philosophy, technical level and product layout in line with the company's development strategy.

Counterparty commitments, 2015 year, 2016 year and 2017 year after deducting non recurring gains and losses in the number of net profit after tax belongs to the owner of the photo will be not less than 5 million yuan, 20 million yuan and 30 million yuan, otherwise it will make the performance of the compensation.

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).