Yesterday, Shenzhen Changfang Group Co., Ltd. (hereinafter referred to as “Company†or “Changfang Groupâ€) issued an announcement stating that it received a notice from its holding subsidiary Shenzhen Kangmingsheng Technology Industrial Co., Ltd. (hereinafter referred to as “Kang Mingshengâ€). It is proposed to apply to the National Small and Medium Enterprise Share Transfer System Co., Ltd. for the termination of listing of Kang Mingsheng shares.
In order to fully protect the dissident shareholders of Kang Mingsheng (the dissenting shareholders include shareholders who have not attended the general meeting of shareholders who have detained the listing and those who have participated in the general meeting but have not voted in favor), the company promises that the company is willing to hold the dissident shareholders. The company's shares are repurchased. The repurchase amount is not more than 2.7 million yuan.
Dissident shareholders shall, in the 30 days from the announcement of the resolution of the resolution of the 4th Extraordinary General Meeting of Kang Mingsheng, the “Shenzhen Kangmingsheng Technology Industrial Co., Ltd. Dissenting Shareholder Repurchase Applicationâ€, which is stamped/signed by the dissident shareholders, shall be delivered in person, Mail delivery (subject to the mailing time) to Kang Mingsheng, and send an email to Kang Mingsheng. If the dissenting shareholder fails to submit a written application to Kang Mingsheng within the above-mentioned period, it shall be deemed to agree to continue to hold Kangmingsheng shares, and the company will no longer bear the repurchase obligation.
As we all know, Changfang Group is a veteran enterprise in the field of LED lighting. Its main business covers LED light-emitting diode digital tube, LED lighting energy-saving lamp, solar lighting products, semiconductor lighting products and so on. Referring to Kang Mingsheng, it is also a good strength. It is a dark horse in the field of special lighting, mobile lighting and off-grid lighting. It has mature sales channels and a large customer base at home and abroad. At this time, Kang Mingsheng suddenly announced that he would stop listing. Which one did he sing?
The short side did not clearly state the intention of Kang Mingsheng in the announcement. But what is certain is that this suspension is not because Kang Mingsheng's performance is difficult to support its development. According to its financial report, Kang Mingsheng’s performance has grown rapidly in the past two years. It is reported that in 2017 its operating income reached 1.154 billion yuan, an increase of 13%; net profit of 154 million yuan, an increase of 11%.
According to public information, Kang Mingsheng officially landed on the New Third Board on December 14, 2015, with the stock code 834736. During the listing period, Kang Mingsheng relied on the absolute advantages in the LED special lighting and other market segments to boost the company's strength, ability and brand influence, and the company's operating income and economic benefits continued to rise. For three consecutive years, it has been successfully selected as one of the “Top 500 Enterprises in Guangdongâ€, “Top 100 Private Enterprises in Guangdong†and “Top 100 in Guangdong Manufacturing Industryâ€, which is the embodiment of the company's comprehensive strength.
In the period of rapid development of the company, why did Kang Mingsheng suddenly announce the delisting? Gaogong LED believes that this is an important measure for Kang Mingsheng to better integrate into the Changfang Group system. Recently, the Changfang Group has twice announced the purchase of Kang Mingsheng's equity. After the completion of the last equity purchase, the shares of the Changfang Group holding Kang Mingsheng will increase from 55.8784% to 91.6238%-100.00%.
The further integration of Changfang Group and Kang Mingsheng will activate Kang Mingsheng's first-mover advantage in off-grid lighting, and focus on the off-grid lighting segment to release the existing horizontal and horizontal sales channels, which will help to achieve differentiated breakthroughs and leapfrogging. Growth, achieving endogenous doubling.
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