Huaying Technology plans to acquire 75% equity of Huaying Optoelectronics for 700 million yuan

Recently, Huaying Technology has thrown out a major asset restructuring plan, and plans to invest 700 million yuan to acquire 35% of Huaying Optoelectronics from 6 companies including Huaying Bermuda. Huaying Technology and Huaying Optoelectronics belong to the company's major shareholder Huaying Bermuda Holdings. Previously, Huaying Technology has purchased 40% of Huaying Optoelectronics from Huaying Bermuda and its concerted action. Equity. Huaying Technology will hold 75% of Huaying Optoelectronics' equity, which will solve the problem of horizontal competition caused by the overlap of LCD modules.

Interestingly, in a package announcement, Huaying Technology also disclosed that the company received a letter of concern from the Shenzhen Stock Exchange. The letter stated that “Hua Ying Optoelectronics has evaluated the entrusted loan of Xoceco for a consideration of RMB 300 million and interest-free loans for a consideration of RMB 200 million to subscribe for 79.36 million shares of Xoceco, with an issue price of RMB 6.30 per share. The market value of Xoceco Electronics, which corresponds to the creditor's rights, was about 317 million yuan. The accountant did not make any impairment on Huaying Opto's 500 million claims.

The announcement also explained that Xoceco’s share price volatility was not due to the fundamental changes in Xoceco’s business operations, but more due to the overall sluggishness of the stock market and the introduction of new delisting measures to suppress the stock price of ST shares. After considering this non-public offering of shares by Xoceco, the net assets of Xoceco will be turned from negative to positive, and Xoceco may uncap in 2013.

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