Guoxing Optoelectronics "two steps" to complete the capital increase

Since last year, Xurui Optoelectronics has been surrounded by many topics such as “The Chairman’s departure, MOCVD equipment has been removed...”. On January 11th, Guoxing Optoelectronics (002449) announced a suspension notice, so that everyone's vision once again stayed in this highly regarded company.

A few days ago, the reporter called Guo Xing Optoelectronics board secretary Party Jianzhong, he told reporters: "We have carried out verification of Xu Rui Optoelectronics, before the chairman of the resignation, equipment was removed, etc. are rumors, did not happen. But the company has indeed Suspension of production for 9 months caused the loss of some key personnel and the equipment was still in a state of stagnation."

According to public information, the existing shareholders of Xurui Optoelectronics include SemiLEDs, Guoxing Optoelectronics, Beijing Langbo Optoelectronics Co., Ltd., Zhejiang Shenghui Lighting Co., Ltd., Beijing Aieridi Investment Co., Ltd., and Nanhai, Foshan City. District High-tech Industrial Investment Co., Ltd. 6 companies. Among them, SemiLEDs holds a shareholding ratio of 49%, and Guoxing Optoelectronics holds a 15% stake.

On the board of directors of Guoxing Optoelectronics, the “Proposal on Capital Increase Xurui Optoelectronics Co., Ltd.” was approved by 6 votes, and 2 votes were abstained from voting. According to the agreement reached by the shareholders of Xu Rui Optoelectronics, Guoxing Optoelectronics will complete the capital increase for Xu Rui Optoelectronics in two steps.

First, maintain the registered capital of Xurui Optoelectronics of RMB 205 million and the total share capital of RMB 205 million. The six shareholders of Xu Rui Optoelectronics will recalculate their respective shareholdings in Xu Rui Optoelectronics according to the actual capital contribution, according to 4.0966. The ratio of 1 to the current share capital is reduced, the total share capital is reduced from 205 million shares to 50 million shares, the par value of each share is 1 yuan, and the registered capital is reduced from 205 million yuan to 50 million yuan.

Secondly, Guoxing Optoelectronics increased its capital by 50 million shares of Xurui Optoelectronics, and the registered capital of Xurui Optoelectronics increased from 50 million yuan to 100 million yuan. The total share capital increased from 50 million shares to 1 Billion shares, other shareholders give up the right of first refusal of new shares.

Party Jianzhong said: "The capital increase of Xurui Optoelectronics is the strategic layout of Guoxing Optoelectronics to expand the industrial chain. By injecting capital and technical strength into Xurui Optoelectronics, and integrating the existing product demand of Guoxing Optoelectronics, Xurui Optoelectronics will gradually develop its production. Normal. At the same time, avoid the risk of bankruptcy liquidation of Xurui Optoelectronics, thereby reducing the possibility of the company continuing to depreciate the long-term equity investment of Xurui Optoelectronics."

It is understood that: “Xu Rui Optoelectronics has continued to lose money since it was put into production in early 2011, and its net assets have decreased significantly. In 2011, it realized operating income of 394,100 yuan and net profit of -656.73 million yuan. As of August 31, 2012, Xu Rui Optoelectronics The total assets of the audit were 543 million yuan and the net assets were 174 million yuan. From January to August 2012, the operating income was 1,603,200 yuan and the net profit was -6,308,490 yuan. The estimated loss in 2012 is roughly 8,000-90 million yuan. On the left and right, the profit and loss that should be borne by the company's initial shareholding ratio of 15% is about -1200 to -13.5 million."

Why did Guoxing Optoelectronics continue to increase capital in this loss-making subsidiary? Many investors said they did not understand. In this regard, Party Jianzhong explained: "The loss of Xurui Optoelectronics is caused by many aspects. The company's chairman and management team stayed in Taiwan for a long time and had insufficient understanding of the domestic market. Due to long-term mismanagement, it has long been formed. The product defects have not been resolved. In the case of a sharp decline in the market in 2011 and 2012, Xurui Optoelectronics was also seriously affected."

After Guoxing Optoelectronics "takes over", it will first input the technical power of Xurui Optoelectronics. Guoxun Optoelectronics has its own ideas when it chooses Xuurui Optoelectronics to increase its capital. "The company's previously established National Star Semiconductor Technology Co., Ltd. and Xurui Optoelectronics are both located in Nanhai District, Foshan City, which has advantages in terms of management radius. In addition, the technical path of Xurui Optoelectronics is similar to that of Guoxing Optoelectronics, and it is easier to integrate." Party Jianzhong said.

At present, Wang Haohao, Chairman of Guoxing Optoelectronics, and Yu Binhai, Vice Chairman of the Board of Directors, respectively, are the directors and supervisors of Xu Rui Optoelectronics. After the completion of the capital increase of Xurui Optoelectronics, the shareholding ratio of Guoxing Optoelectronics will reach 60.55%, which is the controlling shareholder. It is reported that: "The next step for the reorganization of Xurui Optoelectronics management personnel will be determined after the deliberation and final vote on the board of Xu Rui Optoelectronics."

According to the reporter, Xurui Optoelectronics currently covers an area of ​​100 mu. The plot has been upgraded from 200,000/mu in 2009 to 600,000/mu today, and the company's government subsidy of 160 million yuan has not been amortized. From this point of view, Guoxing Optoelectronics only spent 50 million yuan to achieve the control of Xurui Optoelectronics, which is a successful low-cost expansion.

(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)

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