Feile Audio (600651) announced that it intends to transfer 100% equity of Shanghai Shengyi Industrial Co., Ltd. held by the company to Shanghai Yidian Electronics (Group) Co., Ltd. at a price of RMB 705 million. The transaction price was increased by 127.42% from the valuation of the previous year when Feile Audio acquired 54.465% equity of Shengyi Industrial. According to the announcement, since the company was reorganized in 2014, the traditional lighting product manufacturers have gradually transformed into modern service-oriented manufacturing enterprises that provide smart city overall lighting solutions. The company's market segment and product technology and Shanghai Shengyi Industrial Co., Ltd. (below) There is a big difference between the automotive lighting and automotive electronics industries in which the “Shengyu Company†is located. With the shift of the strategic goals of domestic companies, it is expected that the support for Shengye Company in technology development and market development will not meet the development needs of Shengyi Company in the future, and the synergy between the two will also be reduced. In order to focus on the development of superior resources to smart lighting and smart city, the company intends to transfer 100% equity of Shengyi Company to Shanghai Yidian Electronics (Group) Co., Ltd. (hereinafter referred to as “Yidian Electronics Groupâ€), the controlling shareholder of the company. Shanghai Shengyi Industrial Co., Ltd. is a wholly-owned subsidiary of the company. It was established on March 16, 2004. The residence is the ground floor of No. 2, Building 9, No. 98, Tianying Road, Qingpu Industrial Park. The legal representative is Zhuang Shenan, with a registered capital of RMB 7.09 million. . The business scope covers the production, processing and sales of auto parts, electronic products, electrical equipment, technical services, technical consultation, investment consulting, and business consulting in the field of electronic technology. In April 2012, Feile Audio acquired 54.465% equity of Shengyi Industrial for RMB 169 million. After the completion of the acquisition, the company will hold a total of 93.175% of the latter. This is another increase after the acquisition of Shengyi Industrial's equity into the automotive LED lighting business in 2010. Feile Audio said that this increase is in line with the company's traditional lighting and LED lighting development strategy. In 2016, the strategic goal of Feile Audio is to generate a total operating income of 7 billion yuan. In the first half of the year, Feile Audio achieved a total operating income of 3.027 billion yuan, a year-on-year increase of 105%, and a net profit of 63.84 million yuan, a decrease of 15% over the same period last year. Among them, Shanghai Shengyi Industrial achieved a total operating income of 375 million yuan in the first half of the year, an increase of 29% over the same period of last year, and a net profit of 31.86 million yuan, an increase of 52%. The announcement said that this equity transfer will help the company to further adjust its business structure, optimize resource allocation, use technological innovation and drive to achieve product upgrades, deepen the LED general lighting market, and enter the high value-added market segments such as intelligent lighting. 4 Outlets EU Socket,EU Power Socket USB,EU Power Socket Dongguan baiyou electronic co.,ltd , https://www.dgbaiyou.com
June 30, 2021