Another big acquisition! Zhengye technologies plans to swallow up 450 million LED equipment vendors

Time: 2018-10-19
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Zhengye Technologies disclosed its major asset restructuring plan early Wednesday. The company intends to purchase 100% stake in Xuanshuo Optoelectronics by issuing shares and paying cash, and raise matching funds. The company will not resume trading for the time being.

The company acquired 100% equity of Xuanshuo Optoelectronics, with a transaction consideration of 450 million yuan, paid 65% of the transaction consideration by issuing shares, issued 7,063,511 shares in total, and paid 35% of the transaction consideration in cash, totaling 157.5 million yuan.

After the completion of this transaction, Zhengye Technologies will hold 100% stake in Xuanshuo Optoelectronics, and Xuanshuo Optoelectronics will become a wholly owned subsidiary of Zhengye Technologies.

Trading partners Zhao Yutao, He Mingli, Hua Yinghao and Xuanshuo made investment promises. The net profit of Xuanshuo Optoelectronics in 2016, 2017 and 2018 was not less than 36 million yuan, 46.8 million yuan and 60.84 million yuan respectively.

Founded in 2010, Xuanshuo Optoelectronics is mainly engaged in the research, design, production and sales of LED automation equipment and overall solutions, such as LED packaging, LED mounter and intelligent lighting production line, and gradually extends its business to the field of robotic and semiconductor automation production equipment. Xuanshuo Optoelectronics has developed into one of the well-known manufacturers of LED automation equipment in the industry.

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