Changes in the shareholders of NVC
Dehao Runda Company purchased a total of 260 million shares of NVC Lighting from December 11 to December 21 through its wholly-owned subsidiary, Dehao Runda International (Hong Kong) Co., Ltd. (hereinafter referred to as “Hong Kong Dehao Rundaâ€). Shares, accounting for 8.24% of the total number of issued ordinary shares, the transaction amount was 703 million Hong Kong dollars. On December 26, Hong Kong DHL Runda and NVC Inc., one of the major shareholders of NVC Lighting, signed a “Share Transfer Agreement†with effective conditions, and it is proposed to acquire 373 million shares of NVC Lighting's common stock held by NVC Inc. Together with the dividend rights), it accounted for 11.81% of the total number of issued ordinary shares of NVC Lighting, with a transaction amount of HK$951 million. In the case of a successful transaction, Hong Kong Dehao Runda will become the largest shareholder of NVC Lighting and enter the board of directors.
Some insiders revealed to reporters that Dehao Runda has a strong background. If it is optimistic, it is the founder of NVC, Wu Changjiang, who used Dehao Runda’s “strength†to break up and crowd out the chairman of NVC and Schneider. The management to stabilize their position in NVC; but there is also a pessimistic analysis: "How can you know that you have gone awkward and will not come back to a second?"
According to the current disclosure information of the Hong Kong Stock Exchange, the company's Safran Asia and Schneider Electric are the second and third largest shareholders of NVC.
Wu Changjiang Chengde Hao Runda Shareholder
On the other hand, "Now I am also a shareholder of Dehao Runda." Wu Changjiang said frankly to the public.
According to the agreement, Wu Changjiang participated in the subscription of 130 million shares of Dehao Runda's private placement, and only spent about 76.18 million yuan, becoming its second largest shareholder. Wu Changjiang's explanation is very official: "I have always been concerned about LED, NVC must make a difference in LED lighting, this is my wish." And Dehao Runda's reply to the media is also very formal:
"The cooperation and integration between large enterprises is the only way for the LED industry to be scattered to the norm. The advantages of Dehao Runda and NVC Lighting are complementary. This capital cooperation is the beginning of industry integration."
Only between this purchase and sale, the first beneficiary Wu Changjiang turned around and won 306 million yuan. Some people in the industry who do not want to be named said frankly: "Wu Changjiang is a second to enter the Dehao Runda, and more important is the layout. Perhaps Wu Changjiang's journey back to NVC is not as easy as everyone imagined."
In fact, the industry's doubts also directly affect the stock price of NVC. Affected by this, NVC Lighting closed at HK$2.14 yesterday, down 9.322%.
News link: Dehao Runda borrows NVC lighting to open the market?
Whether Dehao Runda, which faces overcapacity in the industry, can overcome the market dilemma of LED through NVC lighting, there are still many variables.
According to statistics from the High-tech LED Industry Research Institute, the upstream operating rate of LEDs is less than 50% due to overcapacity. According to the three quarterly report of Dehao Runda, only 38 of the 80 MOCVD equipments of its two subsidiaries are in mass production, and another 5 are used for R&D. The operating rate is only slightly higher than 50%. However, in an interview with reporters, Dehao Runda’s secretary-general Deng Fei said that the company’s chip production technology has been “very matureâ€, but the specific production incident is still unknown. According to the announcement, the net profit of Dehao Runda in the first three quarters fell by 57.41% compared with the same period of last year.
On the other hand, DHL Runda's entry into NVC Lighting is most important to value its channel resources, but in the short term, NVC Lighting has limited digestive capacity on the Dehao Runda chip. Although NVC has attempted to transform LEDs in recent years, its products have basically been commissioned by OEMs, accounting for a small proportion of the overall business. Zhang Xiaofei, director of the High-tech LED Industry Research Institute, said: "The marriage between Dehao Runda and NVC is the deepest cooperation between LED chip companies and traditional lighting companies, but the prospect of cooperation depends on how to operate."
(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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