Recently, the merger of the acquisition of Philips Lighting, led by Jinsha River, led to the attention of LED people. In recent years, the lighting and lighting market is fiercely competitive. The gross profit margin of LED products is declining. Integration, mergers and acquisitions and restructuring have become the development trend of LED lighting industry. However, resource integration and mergers and acquisitions are not smooth sailing. Due to various factors in the economic market, LED market is not. What is the reason for the termination of the less reorganization and merger? The following is a clue to the termination factors from the public information of the company.
TOP1 Jinshajiang terminates acquisition of Philips lighting business
On January 22, Philips announced that the Chinese and foreign syndicates led by GO Scale Capital of Jinshajiang and the Royal Philips of the Netherlands reached an agreement to “acquire 80.1% of Lumileds' lighting business under Royal Philipsâ€. In order to complete the delivery, the teams of the two sides have actively cooperated with the supervision of the US Foreign Investment Committee (CFIUS) and other regulatory authorities in the past year. Recently, the two sides announced that they have decided to stop the transaction because they cannot resolve the concerns of the US Foreign Investment Committee regarding national security.
TOP2 Lianchuang Optoelectronics terminated the investment
On November 12, 2015, Lianchuang Optoelectronics issued an announcement in the evening. The company failed to reach an agreement due to the risk control clause and decided to terminate the framework agreement for the holding of Jiangxi Hao Investment Consulting Co., Ltd. The company previously planned to accept the investment capital of 25.5 million yuan, that is, the company subscribed to the registered capital of 25.5 million yuan, accounting for 51% of its registered capital, and is a holding company of the company.
TOP3 Alto Electronics is forced to terminate asset restructuring
Alto Electronics announced on the evening of September 24, 2015 that the asset restructuring and employee stock ownership plan were forced to terminate because the stock price was lower than the proposed increase price. Alto Electronics said that because the company's stock price is lower than the price of the original reorganization of the issued shares to purchase assets and raise matching funds, and the two sides of the transaction have some differences on the restructuring of the reorganization, and the agreement cannot be reached, the company decided to terminate the asset reorganization and report to the China Securities Regulatory Commission. Will apply to withdraw the relevant application documents.
TOP4 Foshan Lighting terminates planning and acquisition of Bain Capital
Foshan Lighting announced on the evening of September 8, 2015 that the company's shares (including A shares and B shares) were suspended from the opening on August 26, 2015 as the company and Bain Capital (Hong Kong) Co., Ltd. planned major mergers and acquisitions. Foshan Lighting said that during the suspension period, although it actively communicated with all parties and made efforts to promote related work, the company decided to terminate the planning of the major merger and acquisition because of the complicated situation and the lack of agreement on related matters.
TOP5 Hongli Optoelectronics terminates acquisition of Huishitong
Hongli Optoelectronics issued an announcement on August 31, 2015, announcing the termination of the acquisition of Shenzhen Huishitong Technology Co., Ltd. The acquisition of Hongli Optoelectronics began on July 18, 2015, when the “Announcement on Signing the Investment Intention Agreement†was issued, and it is planned to purchase the equity of Shenzhen Huishitong Technology Co., Ltd. in 1957 with a cash of RMB 195 million. 10,000 shares, while cashing 65 million yuan to Hui Shitong to increase 5.57 million shares. The announcement said that if it can be successfully implemented, the company will hold a 36.58% stake in Huishitong.
Hongli Optoelectronics said that during this period, the company conducted a due diligence investigation on Huishitong. After in-depth investigation and understanding of the situation, it believed that the actual situation of Huishitong did not meet the company's investment expectations. At the same time, according to the agreement of the Investment Intention Agreement, As of August 31, 2015, the parties are still unable to sign a formal transaction agreement, and the intention agreement will be automatically terminated.
TOP6 Lianjian Optoelectronics terminates acquisition of equity of Hangmei Media
On August 24, 2015, Lianjian Optoelectronics released a semi-annual report and also issued a notice stating that the company terminated the acquisition of a 5% stake in Hangmei Media Group Co., Ltd. On April 8, 2015, the company issued the “Announcement on the Acquisition of 5% Equity Interest of Hangmei Media Group Co., Ltd.†The company plans to use its own funds of RMB 150 million to acquire the AirMedia Group held by Beijing Shengshi United Advertising Co., Ltd. 5% of the company's equity.
As Shengshi United chose to transfer the equity of Hangmei Media to third-party investors, on August 24, 2015, the company signed a “Resolution†with Shengshi United and Hangmei Media, and the company terminated the equity acquisition transaction.
TOP7 Lianchuang Optoelectronics terminates the acquisition of 飒特红外 equity
Lianchuang Optoelectronics disclosed on the evening of July 28, 2015 that the company decided to terminate the “Framework Agreement†for the acquisition of the equity of the company due to the failure to reach an agreement with the parties in the transaction details.
On April 18, 2015, Lianchuang Optoelectronics signed a “Framework Agreement on Share Transfer and Capital Increase and Share Expansion†with Guangzhou Haote Infrared Co., Ltd. and Guangzhou Yingfu Laide Automation Technology Co., Ltd. According to the agreement, Lianchuang Optoelectronics intends to acquire a 20% equity interest in Hite Infrared with a credit of no more than RMB 150 million. The final transfer price is determined through consultation and evaluation. At the same time of the acquisition of equity, Lianchuang Optoelectronics intends to increase the capital of the company by cash not exceeding RMB 150 million, accounting for 16.67% of the shares of the company. After the completion of the capital increase, the company holds a 33.34% stake in the company. When the company has achieved the agreed performance indicators and other conditions, the company will acquire the remaining shares of the company.
Lianchuang Optoelectronics stated that after the signing of the Framework Agreement, the two parties actively promoted the relevant work in accordance with the agreement. In the subsequent implementation process, the company and the parties to the agreement failed to reach an agreement in the transaction details, and the two parties decided to terminate the negotiations. "Framework Agreement".
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