Foshan Lighting plans to acquire 32.85% stake in Nanhe Industrial with RMB 180 million

On April 7, Nanhe Mobile announced that Foshan Lighting purchased a 32.85% stake in Nanhe Industrial held by Baiya Company for 180 million yuan.

According to the announcement, Foshan Lighting purchased 32.85% of the shares of Nanhe Industrial held by Baiya Company with its own funds of 180 million yuan. Foshan Lighting is listed on the Shenzhen Stock Exchange. After the completion of the equity acquisition, Foshan Lighting holds a 32.85% stake in Nanhe Industrial. In addition, Foshan Lighting's Consensus Action Electronics Group holds a 34.30% stake in Nanhe Industrial.

After the acquisition, the actual controller of Foshan Lighting and Electronics Group, Guangsheng Company, will actually control 67.15% of the equity of Nanhe Industrial and become the actual controller of Nanhe Industrial. Nanhe Industrial holds a 60% stake in Nanhe Mobile and is the controlling shareholder of Nanhe Mobile. Upon completion of this transaction, Hirose will become the actual controller of Nanhe Mobile through indirect holding.

By acquiring the equity of Nanhe Industrial, Foshan Lighting can share the benefits brought by the urban renewal of Nanhe Industrial Shenzhen Industrial Plant and increase its revenue sources. According to public information, Foshan Lighting's main business is the production and operation of various electric light sources and its supporting lamps and other products.

It is worth mentioning that according to the consideration of this acquisition, after the completion of the acquisition, the valuation of Nanhe Mobile will reach 913 million yuan. The company is still in a state of suspension. The latest transfer time is expected to be May 19, 2017.

According to the data of the New Third Board Research Center, Nanhe Mobile listed on the New Third Board on August 17, 2016. Its main business is the development, production and sales of electronic products, digital products and communication products. In the first half of 2016, Nanhe Mobile's revenue was 40.825 million yuan, a year-on-year increase of 21%; net profit was 10.5 million yuan, an increase of 14.8%. A risk alert has been prompted.


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