At present, the domestic LED industry is facing difficulties such as overcapacity, low-end products, rising costs, and price ratios, resulting in serious product overstocking and falling corporate profits. Some analysts pointed out that the domestic LED industry is in the cold winter.
Guoxing Optoelectronics (002449.SZ) participating company Xu Rui Optoelectronics is in the LED industry in the cold winter. Xu Rui Optoelectronics has been suspended for 9 months, some of the backbone personnel are lost, the equipment is in a stagnant state, and there are certain operational risks. From September to August 2012, Xurui Optoelectronics realized an operating income of 1,603,200 yuan and a net profit loss of 6,308.4 million yuan. At present, the book value of Guoxing Optoelectronics' long-term equity investment in Xurui Optoelectronics is 64.83 million yuan, holding 15% of Xurui Optoelectronics. In view of the current operating conditions of Xurui Optoelectronics, the company has decided to make an impairment provision for the long-term equity investment of Xurui Optoelectronics. The estimated amount of the provision is estimated to be between 37 million yuan and 41 million yuan. The reporting period is 2012. year.
Under the above circumstances, Guoxing Optoelectronics announced on the evening of January 17 that it decided to increase the capital of 50 million yuan to Xurui Optoelectronics. After the capital increase is completed, Xurui Optoelectronics will become a subsidiary of Guoxing Optoelectronics.
At present, Xurui Optoelectronics has a registered capital of 205 million yuan and a total share capital of 205 million shares. Some shareholders include SemiLEDs, Guoxing Optoelectronics, Beijing Langbo Optoelectronics Co., Ltd. (600184) Co., Ltd., Zhejiang Shenghui Lighting Co., Ltd., Beijing Aieryi Di Investment Co., Ltd. and Foshan Nanhai High-tech Industrial Investment Co., Ltd. and other six companies. Among them, SemiLEDs holds a shareholding ratio of 49%, and Guoxing Optoelectronics holds a 15% stake.
First, SemiLEDs transferred its 33.43 million technology shares to other shareholders for free, including the legally held 12.51 million shares of Xurui Optoelectronics. Therefore, the shareholding of Guoxing Optoelectronics will increase from 15% to 21.11%. Under the above premise, Xurui Optoelectronics will reduce the existing share capital by 4.0966:1, the total share capital will be reduced from 205 million shares to 50 million shares, the par value of each share will be 1 yuan, and the registered capital will be reduced from 205 million yuan. 50 million yuan.
Secondly, Guoxing Optoelectronics increased its investment of 50 million shares of Xurui Optoelectronics with 50 million yuan, and the registered capital of Xurui Optoelectronics increased from 50 million yuan to 100 million yuan. The total share capital increased from 50 million shares to 100 million shares, other shareholders abandoned the right of first refusal of new shares.
As of August 31, 2012, Xu Rui Optoelectronics' total assets under audit were 543 million yuan and net assets were 174 million yuan. After Xu Rui Optoelectronics has reduced its shareholding into 50 million shares in the above-mentioned manner, it is equivalent to 3.48 yuan per share of net assets, while Guoxing Optoelectronics has subscribed for 50 million shares, and the price per share is only 1 yuan. On the surface, Guoxing Optoelectronics Co., Ltd. It is very cost-effective to increase the capital of Xu Rui Optoelectronics. Moreover, Guoxing Optoelectronics will also gain a controlling stake in Xurui Optoelectronics.
However, the LED industry has not yet recovered, Guoxing Optoelectronics also admitted that the capital increase of 50 million yuan of Xurui Optoelectronics still has the risk of asset impairment caused by fierce competition and falling prices. Moreover, Xurui Optoelectronics has been suspended for 9 months, and the company needs to take measures as soon as possible to solve the normal production and operation needs of Xurui Optoelectronics.
The company said that this capital increase is the strategic layout of Guoxing Optoelectronics' expansion of the industrial chain. By injecting capital and technical strength into Xurui Optoelectronics, it integrates the existing product demand of Guoxing Optoelectronics, making Xurui Optoelectronics gradually go normal. To avoid the risk of bankruptcy liquidation of Xurui Optoelectronics, thereby reducing the possibility of the company continuing to depreciate the long-term equity investment of Xurui Optoelectronics.
National Star Optoelectronics and Xurui Optoelectronics' business are similar, and Guoxing Optoelectronics' integration with Xurui Optoelectronics may be relatively easy. It is perhaps a wise choice for Guoxing Optoelectronics to conduct mergers and acquisitions during the downturn of the industry, especially to make up for the loss of assets caused by the serious losses in the previous period. However, the effect of holding Xu Rui Optoelectronics will take time to test.
Guoxing Optoelectronics (002449.SZ) participating company Xu Rui Optoelectronics is in the LED industry in the cold winter. Xu Rui Optoelectronics has been suspended for 9 months, some of the backbone personnel are lost, the equipment is in a stagnant state, and there are certain operational risks. From September to August 2012, Xurui Optoelectronics realized an operating income of 1,603,200 yuan and a net profit loss of 6,308.4 million yuan. At present, the book value of Guoxing Optoelectronics' long-term equity investment in Xurui Optoelectronics is 64.83 million yuan, holding 15% of Xurui Optoelectronics. In view of the current operating conditions of Xurui Optoelectronics, the company has decided to make an impairment provision for the long-term equity investment of Xurui Optoelectronics. The estimated amount of the provision is estimated to be between 37 million yuan and 41 million yuan. The reporting period is 2012. year.
Under the above circumstances, Guoxing Optoelectronics announced on the evening of January 17 that it decided to increase the capital of 50 million yuan to Xurui Optoelectronics. After the capital increase is completed, Xurui Optoelectronics will become a subsidiary of Guoxing Optoelectronics.
At present, Xurui Optoelectronics has a registered capital of 205 million yuan and a total share capital of 205 million shares. Some shareholders include SemiLEDs, Guoxing Optoelectronics, Beijing Langbo Optoelectronics Co., Ltd. (600184) Co., Ltd., Zhejiang Shenghui Lighting Co., Ltd., Beijing Aieryi Di Investment Co., Ltd. and Foshan Nanhai High-tech Industrial Investment Co., Ltd. and other six companies. Among them, SemiLEDs holds a shareholding ratio of 49%, and Guoxing Optoelectronics holds a 15% stake.
First, SemiLEDs transferred its 33.43 million technology shares to other shareholders for free, including the legally held 12.51 million shares of Xurui Optoelectronics. Therefore, the shareholding of Guoxing Optoelectronics will increase from 15% to 21.11%. Under the above premise, Xurui Optoelectronics will reduce the existing share capital by 4.0966:1, the total share capital will be reduced from 205 million shares to 50 million shares, the par value of each share will be 1 yuan, and the registered capital will be reduced from 205 million yuan. 50 million yuan.
Secondly, Guoxing Optoelectronics increased its investment of 50 million shares of Xurui Optoelectronics with 50 million yuan, and the registered capital of Xurui Optoelectronics increased from 50 million yuan to 100 million yuan. The total share capital increased from 50 million shares to 100 million shares, other shareholders abandoned the right of first refusal of new shares.
As of August 31, 2012, Xu Rui Optoelectronics' total assets under audit were 543 million yuan and net assets were 174 million yuan. After Xu Rui Optoelectronics has reduced its shareholding into 50 million shares in the above-mentioned manner, it is equivalent to 3.48 yuan per share of net assets, while Guoxing Optoelectronics has subscribed for 50 million shares, and the price per share is only 1 yuan. On the surface, Guoxing Optoelectronics Co., Ltd. It is very cost-effective to increase the capital of Xu Rui Optoelectronics. Moreover, Guoxing Optoelectronics will also gain a controlling stake in Xurui Optoelectronics.
However, the LED industry has not yet recovered, Guoxing Optoelectronics also admitted that the capital increase of 50 million yuan of Xurui Optoelectronics still has the risk of asset impairment caused by fierce competition and falling prices. Moreover, Xurui Optoelectronics has been suspended for 9 months, and the company needs to take measures as soon as possible to solve the normal production and operation needs of Xurui Optoelectronics.
The company said that this capital increase is the strategic layout of Guoxing Optoelectronics' expansion of the industrial chain. By injecting capital and technical strength into Xurui Optoelectronics, it integrates the existing product demand of Guoxing Optoelectronics, making Xurui Optoelectronics gradually go normal. To avoid the risk of bankruptcy liquidation of Xurui Optoelectronics, thereby reducing the possibility of the company continuing to depreciate the long-term equity investment of Xurui Optoelectronics.
National Star Optoelectronics and Xurui Optoelectronics' business are similar, and Guoxing Optoelectronics' integration with Xurui Optoelectronics may be relatively easy. It is perhaps a wise choice for Guoxing Optoelectronics to conduct mergers and acquisitions during the downturn of the industry, especially to make up for the loss of assets caused by the serious losses in the previous period. However, the effect of holding Xu Rui Optoelectronics will take time to test.
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