Rumors: Yuanfang Optoelectronics has not yet prepared to sell Red Phase Technology

Recently, some media reported that Yuanfang Optoelectronics plans to sell the shares of Hongxiang Technology, a subsidiary of the company, to the Golden Shield shares of the main ventilation system. In response, Yuanfang Optoelectronics issued a clarification announcement on the evening of the 11th. As of now, the company has not yet understood the relevant specific trading plan, and has not conducted internal discussions and decisions on the above matters. The company will continue to pay attention to related matters.

On July 9, Golden Shield Co., Ltd. disclosed the “Announcement on the Main Contents of the Restructuring Framework Agreement”. The announcement stated that: Red Phase Technology and Zhongqiang Technology shareholders signed the “Restructuring Framework Agreement”, and Jindun shares were owned by Hongxiang Technology and Zhongqiang Technology. A framework agreement for shareholders to issue shares to purchase 100% of the shares of the “target company” they hold. According to the restructuring framework agreement, the purchase price of Hongxiang Technology was initially set at 1.16 billion yuan, and the purchase price of Zhongqiang Technology was initially set at 800 million yuan.

It is reported that Hongxiang Technology is a subsidiary of Yuanfang Optoelectronics Co., Ltd. Up to now, Yuanfang Optoelectronics has held a total of 4.934078 million shares of Red Phase Technology, accounting for 8% of the total share capital of Hongxiang Technology. The other shareholders of Hongxiang Technology are Hangzhou Zhongyi Investment Management Co., Ltd., Hangzhou Hongjiang Investment Management Co., Ltd. and Fei Zhanjun, with shareholding ratios of 71.6%, 17.90% and 2.50% respectively.

The main business of Hongxiang Technology is photoelectric products such as infrared camera and ultraviolet imager. When Yuanfang Optoelectronics became a shareholder in Hongxiang Technology in 2015, it said that Hongxiang Technology and the company's original business belong to the field of photoelectric detection equipment, which has good interactivity, and Hongxiang Technology has strong technical advantages and better performance. Business model and development prospects. Red Phase Technology and its original shareholders have promised that the accumulated net profit after tax after deducting non-recurring gains and losses in 2015, 2016 and 2017 will reach 119.7 million yuan.

According to industry insiders, according to the clarification announcement issued by Yuanfang Optoelectronics, it did not intend to sell the shares of Hongxiang Technology before. Even Yuanfang Optoelectronics intends to acquire Hongxiang Technology. It is not impossible. The main products of Golden Shield are ventilation system equipment. The proposed acquisition of Hongxiang Technology is a cross-border merger and acquisition. Whether the two can produce synergy in the business, there is still uncertainty. In contrast, Yuanfang Optoelectronics can fully support Red Phase Technology in terms of enterprise management, technology management, marketing management, and industrial integration by virtue of its advantages in the field of photoelectric detection equipment. From this perspective, it may be more appropriate for Yuanfang Optoelectronics to integrate Red Phase Technology.

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