Overclocking three is about 170 million acquisition of 49% equity of Jiong Da energy.

In September 12, 2017, overclocking three (hereinafter referred to as the "company") announced that the company agreed to acquire 127500000 stake in Zhejiang Jiong Da Energy Technology Co., Ltd. (hereinafter referred to as "Jiong Da energy"), which was purchased by Huang Haiyan, Chen Shujie and Hangzhou win Hai investment management partnership (limited partnership) with a self financing amount of 127500000 yuan.

In April 12, 2018, the announcement of overclocking three announced that it would acquire 49% of the equity of Jiong Da energy by issuing shares, and the price of the relevant equity transfer transaction was based on the assessment results issued by the appraisal institutions with securities qualification, and determined by the relevant parties of the transaction. The arrangement for payment of share transfer price shall be agreed upon by the parties involved in the transaction.

Yesterday (15) evening, the company announced that the company intends to invest in Huang Haiyan, Chen Shujie and win sea to issue shares to buy 49% of its holdings of Jiong Da energy (underlying assets). The valuation of the underlying assets is based on the evaluation report issued by the appraisal institution of securities and futures business, and is negotiated by the parties involved in the transaction. According to the Asia super assets assessment, the Beijing Asian super Commentary (2018) A124 asset appraisal report, with the December 31, 2017 as the base of assessment, the assessment value of Jiong Da energy 100% stake is 354 million 961 thousand and 400 yuan. With the consent of all parties involved in the negotiations, all the rights and interests of the shareholders of Jiong Da energy were priced at 350 million yuan, and the transaction price of the 49% stake of Jiong Da energy in the transaction was 171 million 500 thousand yuan.

According to the announcement, the company will hold a 100% stake in Jiong Da energy after the completion of the transaction, and Jiong Da energy will become a wholly owned subsidiary of the company. The transaction does not plan to raise matching funds. In addition, the parties agreed that the performance compensation period for this transaction is 2018, 2019 and 2020. Jiong Da energy commitments total profit of three years is no less than 120 million yuan. If the performance is not up to standard, compensation will be made to the company.

Overclocking three indicates that this transaction is an important manifestation of the company's epitaxy M & a strategy. Through this transaction, the company can accelerate the development of LED lighting business, improve the market share of LED lighting business, expand the company's business in the municipal and engineering lighting areas, and promote the rapid development of the company's business.

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