The second issuance of the plan for the second time, Fushun Electronics officially completed the acquisition of Mairui Optoelectronics

[High-tech LED reporter / Zhao Hui] entangled the acquisition of Shenzhen Mairui Optoelectronics for several months, with the announcement of the announcement issued by Furi Electronics (600203.SH) on September 28th.

Just over the past 20 days since the first issuance plan was rejected by the shareholders' meeting, Furi Electronics quickly regrouped and revised the additional issuance plan, which was approved by the second extraordinary shareholders meeting in 2013.

The additional issuance of non-public offerings of no more than 50 million shares, raising funds of 278 million yuan, of which 194.87 million yuan for the acquisition of 92.80% of Shenzhen Mairui Optoelectronics, the remaining 83.13 million yuan for repayment of loans.

Pursuant to the terms of the revised issuance plan, Furi Electronics first used its own funds to complete the acquisition of 92.80% of the shares of Mairui Optoelectronics, and then replaced them with raised funds after the completion of the issuance.

According to the financial report data, as of June 30, 2013, Furi’s electronic money funds were 142,261,100 yuan, and the balance of cash and cash equivalents at the end of the period was only 81,436,600 yuan, which was obviously insufficient to pay the purchase price. The additional fundraising became Fuzhou. s Choice.

Furi Electronics announced that the company has recently completed the equity transfer and industrial and commercial change registration procedures. So far, the company holds 92.80% equity of Shenzhen Mairui Optoelectronics Co., Ltd., Shenzhen Maiguang Optoelectronics Co., Ltd. has become a holding subsidiary of the company.

On September 27, Furi Electronics adopted the "non-public offering plan (second revised version)" adopted by the second extraordinary shareholders meeting in 2013. Furi Electronics adjusted the issue target of non-public offering of shares, pricing benchmark date and The pricing principle and the limited period of issuance of shares.

Compared with the two additional issuance plans, the biggest difference is that Fujian Electronic Information (Group) Co., Ltd., the indirect controlling shareholder of Furi Electronics, withdrew from the issuance.

In the original issuance plan, Electronic Information Group promised to subscribe for not less than 38.76% of the number of additional shares in cash in accordance with the same subscription price as other issuers, and the lock-up period is 36 months.

However, the original issuance plan was not passed at the first extraordinary shareholders meeting held in September 2nd.

Furi Electronics quickly adjusted the plan and obtained the approval of the shareholders' meeting. The plan after the issuance also stipulated that before the funds raised in this place, the company will invest the project first by self-raised funds, and then replace the funds after they are in place; The use of raised funds is lower than the total investment of the project, and the company will solve it through bank loans or other means.

As for why the major shareholder withdraws from the issuance, the plan has been passed, and Furi Electronics did not explain it.

Since the beginning of this year, the market demand for LED terminal applications has shown a rapid upward trend. At the same time, the market structure is tending to the situation of the big ones. How to quickly seize the industry rankings becomes the next strategic focus of the company. Especially since the beginning of this year, the IPO channel has been blocked, and some LED listed companies have become the best choice for LED listed companies to accelerate the integration and restructuring of LED business.

"To build a complete industrial chain of R&D, production and application of LED chip manufacturing, packaging and application products through new construction, expansion, mergers and acquisitions, etc., to rapidly expand the industrial scale, enhance market competitiveness, and realize the leap-forward development of the LED industry." Japanese electronics undoubtedly revealed the idea of ​​the LED industry as the main business development.

"The acquisition of Mai Rui can improve the industrial chain layout of Furi in LED, and use the original channels and customers to rapidly improve the LED business." An industry veteran said that Furi’s business performance is not good, M&A After the sharp, Furi’s performance will be much better.

According to the data of the first half of this year, Furi Electronics' operating income in the first half of 2013 was 1,340,181,500 yuan, and the net profit loss after deducting recurring profit and loss was 39,719,200 yuan.

According to the financial report, as of June 30, 2013, Furi Electronics' asset-liability ratio was 64.92%, and the additional issuance also helped Furi Electronics to reduce its debt scale and reduce financial expenses.

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