The new head of LIAN opto owners commitment to provoke questions

Only 300 million of its net assets guarantee 5 years invested 2 billion 800 million yuan

LIAN opto actual controller easy to master, Jiangxi business Abt Associates Inc (hereinafter referred to as "Ganshang united") to replace the SASAC of Jiangxi province become the actual controller of the company. LIAN can change the actual control of the system change, and then gorgeous turn?

Jiangxi business union 980 million

Recently, LIAN photoelectric disclosure of changes in the actual controller changes in equity report. Announcements, in November 5th, the Jiangxi provincial SASAC and Gan jointly signed a contract for the transfer of the 100% stake in Jiangxi Electronics Group Corporation (hereinafter referred to as Jiangxi Electronics) after the divestiture of the equity transfer price of $982 million 673 thousand and 100. After the completion of the acquisition, the joint venture will be indirectly held by Jiangxi electronics LIAN 20.41% stake in optoelectronics, becoming the company's indirect controlling shareholder.

It should be noted that, Jiangxi electronics holds 75 million 692 thousand and 100 shares of LIAN optoelectronics, according to Friday's closing price, the market value of more than 1 billion, only one of the assets over the equity transfer price.

In addition to the transaction price, also make joint Ganshang promise: no transfer control of Jiangxi electric and LIAN photoelectric in at least 10 years after the transferee equity; after obtaining control over the 5 years, pledged to raise the key project of the main industry of Jiangxi electronic sector development through different financing channels required 2 billion 800 million yuan of funds more than 3 years ago, one into the Jiangxi electronic LED, cable and special communication project funds 1 billion yuan, reached 10 billion yuan more than 5 years of Jiangxi electronic sales.

Joint loss

Where is the union of Jiangxi and the United States is sacred, can make such a commitment to invest so much

Public information, Jiangxi business was founded in February 2009, registered in Shanghai, the registered capital of 350 million yuan. The legal representative of Deng Kaiyuan is the actual controller of the company, through its Shanghai chemding Industrial Investment Co., Ltd. and Shanghai Kai Xuan Trade Co. Ltd. (holding Ganshang joint 19%, 15% stake) indirect control of Ganshang combined 34% stake, to achieve a relatively holding position. Deng is currently serving as the social position of the president of the Jiangxi chamber of Commerce in Shanghai, Shanghai Youth Federation standing committee, Deputy Secretary General of the Shanghai Federation of medical and health youth.

It is inconceivable that the business scope of the joint venture to get involved in industrial investment, real estate development and management, domestic trade, etc., and the relevant industries mentioned in Jiangxi electronics is not associated with, called layman".

More frightening is the United Ganshang consecutive losses: 2009 net profit -500 million; 2010 1 - August loss of 1 million 863 thousand and 200 yuan. As of August 31, 2010, the company's net assets of about 343 million yuan. The above two period data are audited financial data.

Why can the Shang and Shang Federation

The actual controller changed slightly. Market consensus is expected that the new controller is engaged in related fields of the company. From the existing assets of the joint venture to see, there is no relevant assets, Jiangxi business union non LED related areas, slightly lower than market expectations. LIAN has been tracking the actual change in the control of the people of Hong Kong Securities analyst Xun Jian comments.

It is understood that the gradual loss of the joint business data is real data, it is an investment company, specifically what we do not know. A staff member of the securities department, said: no matter what kind of company to enter, the SASAC must be committed to the premise of the transfer of ownership. "

"The Jiangxi electronic stock listing price is only 780 million yuan, significantly undervalued, profitable, so fierce bidding process. Jiangxi business association is relatively aware of the listing of the shares, but also carefully prepared to plan, the final bid is a geopolitical relationship with Deng Kaiyuan's background and Jiangxi has a great relationship. "A person in contact with the transfer of equity, said:" the transfer of equity is bound to comply with the rigid conditions, and ambiguous soft constraints, it depends on the situation after the transfer. As to the girl to marry him, dowry, dowry must give these hard conditions, and as for the marriage situation, is another matter".

It is worth mentioning that the equity transfer matters still need to be approved by the Jiangxi provincial government, the State Council sasac.