Qinshang shares announced on the evening of October 25 that the company intends to sell 90% of the holding subsidiary Xinqin, 100% of Qinshang Semiconductor and 30% of the participating company Jiangxi Qin to the related party Huang Zhiyong at a preliminary price of 1.35 million yuan. Equity, 30% equity of Anhui Qinqin, 30% equity of Raffles Optoelectronics, 25% equity of Anhui Bangdaqin, and Fujian Qinshang shares announced on the evening of October 25 that the company intends to make a preliminary price of RMB 135 million to related parties. Huang Zhiyong sells a 90% stake in Xinqin, a holding subsidiary, a 100% stake in Qinshang Semiconductor, a 30% stake in Jiangxi Qinshang, a 30% stake in Anhui Qinshang, a 30% stake in Raffles Optoelectronics, and a 25% stake in Anhui Bangdaqin. , 20% equity of Fujian Guoce Photovoltaic, 13.33% equity of Jiangsu Shangming, 4.67% equity of Huiyu Tongxin and 3.75% equity of Zhongke Semiconductor, Huang Zhiyong paid the consideration of this transaction in cash. Gaogong LED was informed that this transaction constitutes a major asset restructuring. The relevant indicators of this transaction are calculated as follows: Note: When calculating the proportion of financial indicators, the total assets, net assets and operating income of Qinshang Shares are taken from the audited listed company's 2016 consolidated financial statements, the assets to be sold. The total amount, net assets, and operating income are taken from the unaudited Xinqin Shang and Qinshang Semiconductor's 2016 annual financial statements. The net assets are the net assets attributable to the shareholders of the parent company. It is understood that the counterparty to the sale of this asset is Mr. Huang Zhiyong. Mr. Huang Zhiyong is the head of a branch factory. He is the brother-in-law of Mr. Li Xuliang, the actual controller of Qinshang, and his spouse, Ms. Li Shuxian, holds 4.65% of the shares of the listed company. Prior to this transaction, Qinshang shares carried out internal asset transfer, and Xinqin took over the company's semiconductor lighting business. In recent years, due to factors such as the macro economy and the sluggish growth of the semiconductor lighting industry, the operating revenue, operating margin and operating profit of Qinshang Semiconductor's lighting business have shown a downward trend. According to the unaudited simulated consolidated financial statements of Xinqin in the last two years, the operating income of the semiconductor lighting business in 2015, 2016 and January-April 2017 was 732,922,200 yuan, 583,332,500 yuan and 1,841,195,500 yuan respectively. The operating gross profit was 208,764,400 yuan, 177,343,600 yuan, and 669,300,200 yuan respectively. The operating profit was 94,500 yuan, 8,046.2 thousand yuan and -16,638,300 yuan respectively. The operating performance of Qinshang's semiconductor lighting business continued to decline, which seriously affected the company's profitability and restricted the future development space. Through this transaction, Qinshang shares will withdraw from the semiconductor lighting business, and the main business will undergo major changes. In the future, Qinshang will further increase the educational business layout through the acquisition of high-quality assets related to the education service industry, realize business transformation, and enhance the industry competitiveness, profitability and corporate value of listed companies. Prior to this transaction, Qinshang Group entered the education field through a series of investment M&A activities such as the acquisition of 100% equity of Guangzhou Longwen, and subsequently further expanded its strategic deployment in the field of private education, and launched a series of acquisitions: The shareholders of Liuzhou Little Red Hat Education Investment Consulting Co., Ltd. signed the “Framework Agreement on Asset Transfer†and signed the “Minister of Capital Increase/Acquisition†with the shareholders of Beijing Bump Education Consulting Co., Ltd. and Changsha Siqi Education Consulting Co., Ltd., and Eddie Education Relevant parties of the group signed relevant investment agreements and completed the acquisition of Shenzhen Yinglun Education Industry Co., Ltd. in early 2017. Qinshang shares said that this transaction is an important strategic measure for the company to further deepen industrial restructuring and accelerate the pace of transformation education business. The industry insiders hold different views and attitudes on the move of the company to exit the semiconductor lighting business and transform education. Chen Hao, research and development director of Jiufu Group Foshan Branch, told Gaogong LED that due to the macro environment and the weak growth of the semiconductor lighting industry, the operating margin and operating profit of the lighting industry showed a downward trend. The prospects for lighting companies that do not have core technology will become narrower and narrower, and they will also constrain the future development of the company. Only by mastering the core technology, focusing on all aspects, relying on core technologies and carrying out subversive innovations can we make the company bigger and stronger. The richest industries are medical care, education, and diligence in the field of education at the right time to achieve greater profit growth for companies. Chen Hao said. However, some insiders also questioned the diligence. An industry insider who did not want to be named said: Diligent shares sell semiconductor lighting business, reflecting the company's lack of competitiveness in this field. The first transformation of the lighting industry is education, and it is involved in completely unfamiliar areas. The pressures and challenges in the future will not be smaller than the LED industry, and the prospects are worrying!
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