Konka Group Co.Ltd(000016) ( Konka Group Co.Ltd(000016) ) announced on March 6 that it would terminate the acquisition of shares of Ming hi tech and haisida power.
Konka Group Co.Ltd(000016) said that since the disclosure of the transaction plan, the company and relevant parties have orderly promoted and implemented various works of the transaction. However, since the company and the shareholders of haisida power failed to reach an agreement on some core terms of the transaction, the meeting decided to terminate the transaction from the Perspective of safeguarding the rights and interests of all shareholders, especially small and medium-sized shareholders and the interests of the company.
On September 10 last year, Konka Group Co.Ltd(000016) disclosed the transaction plan. The company plans to purchase 100% equity of Minggao technology from 11 counterparties including Minggao holdings by issuing shares; At the same time, it is planned to purchase 100% equity of haisida power from 33 counterparties such as haisida group by issuing shares and paying cash, including 70% equity of haisida power by issuing shares and paying the remaining 30% equity in cash. The issue price of issuing shares to purchase assets is 6.09 yuan / share.
At the same time, in order to improve the performance of transaction integration, Konka Group Co.Ltd(000016) plans to issue shares of 5.95 yuan / share to the controlling shareholder OCT Group to raise supporting funds for cash consideration, projects under construction of the target company, supplement the working capital of the company and / or the target company and repay debts.
However, since the release of the above plan, the Konka Group Co.Ltd(000016) share price fluctuated and fell, closing at 5.66 yuan / share.
In fact, at the beginning of this year, the above transactions showed that they had been blocked. The participating shareholder Tongding Interconnection Information Co.Ltd(002491) ( Tongding Interconnection Information Co.Ltd(002491) ) of the subject haisida power announced on January 7 that recently, the shareholders of Jiangsu haisida Group Co., Ltd. and other haisida power decided to terminate the transaction because Konka Group and the shareholders of haisida power failed to reach an agreement on some core terms of the transaction. Konka Group will continue to actively negotiate with the counterparty Konka Group Co.Ltd(000016) also announced this progress, and said that the relevant work involved in the exchange is in progress, and the trading scheme needs further consultation and there is uncertainty.
Ming hi tech and haisida power, which were originally planned to acquire, have been acquired or have independent IPO experience. They are companies with certain volume and popularity in the industry.
Shenkonka is one of the earliest home appliance manufacturers in China. In recent years, it is accelerating the transformation of science and technology, and the above acquisition also plays a positive role in the upgrading of the company’s track. The acquisition of Ming hi tech means deepening the layout of shenkonka in the field of PCB industry. In recent years, shenkonka has taken the PCB industry as one of the key business areas. Ming hi tech is mainly engaged in R & D, production and sales of flexible circuit boards, soft and hard combination boards, as well as surface mount business (SMT), which is widely used in consumer electronics, automotive electronics and other fields. It plays a positive role in enriching the PCB product structure and industrial layout of listed companies and enhancing the customization level of PCB products.
The acquisition of haisida power supply is more interesting. Located in the hot new energy track in recent years, haisida power supply is mainly engaged in the R & D, production and sales of lithium-ion battery products. The acquisition will help Shenzhen Konka enter the small power and energy storage market of lithium battery, extend the industrial chain of the company’s consumer electronics business upward and lay out the energy storage market horizontally.
