Tongfeng Electronics Holdings Zhongwei Optoelectronics Plus Code LED

Yesterday (20), Tongfeng Electronics (600237) announced that the company intends to sign a capital increase holding agreement with Anhui Jiangwei Precision Manufacturing Co., Ltd. (hereinafter referred to as Jiangwei Precision), to Anhui Weiwei Photoelectric Material Co., Ltd., a wholly-owned subsidiary of Jiangwei Precision. (hereinafter referred to as Zhongwei Optoelectronics) increased capital by 70 million yuan. After the capital increase is completed, the registered capital of Zhongwei Optoelectronics will increase to 100 million yuan, and Tongfeng Electronics will account for 70% of Zhongwei Optoelectronics.

Announcement shows that Zhongwei Optoelectronics Co., Ltd. was established in April 2013, mainly engaged in the production and sales of LED package brackets. In 2013, it realized operating income of 1,658,300 yuan, net profit of -78,700 yuan; from January to September 2014, it realized operating income of 400.48 million. Yuan, net profit of 2,722,900 yuan; as of September 30, 2014, the estimated value was 3,189,580 yuan.

The reporter noted that the other point of view of the above-mentioned capital increase plan is that the two sides have set up a performance-to-gambling agreement: in 2014, Zhongwei Optoelectronics' total sales revenue is not less than 50 million yuan, and the total profit from September to December is not less than 2.6 million yuan; The total sales revenue from 2017 to 2017 is not less than 100 million yuan, 120 million yuan and 150 million yuan respectively, and the total profit is not less than 12.5 million yuan, 13.75 million yuan and 15 million yuan respectively.

If Zhongwei Optoelectronics reaches its target in 2017, Tongfeng Electronics will acquire a 10% stake in Zhongwei Optoelectronics Co., Ltd. in the first quarter of 2018 according to the 2.3 times of the net assets per share audited by Zhongwei Optoelectronics in 2017; In any year during the period, Zhongwei Optoelectronics did not meet the standard, and Tongfeng Electronics' capital increase behavior was revoked at any time, and Jiangwei Precision and actual controller Jianghao increased the capital price by 70 million yuan, plus certain interest costs, all repurchased. A 70% stake in Zhongwei Optoelectronics held by a listed company.

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