Securities code: Ledman Optoelectronic Co.Ltd(300162) securities abbreviation: Ledman Optoelectronic Co.Ltd(300162) Announcement No.: 2022010 Ledman Optoelectronic Co.Ltd(300162)
Announcement on issuing shares to specific objects in 2022, diluting immediate return, taking filling measures and commitments of relevant subjects
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
Ledman Optoelectronic Co.Ltd(300162) (hereinafter referred to as "the company", "listed company" or " Ledman Optoelectronic Co.Ltd(300162) ") plans to issue no more than 104853009 shares (including this number) to specific objects, and the total amount of funds raised is no more than 689 million yuan. The net amount of funds raised after deducting the issuance expenses is planned to be used for Ledman Optoelectronic Co.Ltd(300162) cob UHD display reconstruction and expansion project and supplementary working capital.
According to several opinions of the State Council on further promoting the healthy development of the capital market (GF [2014] No. 17) The opinions of the general office of the State Council on Further Strengthening the protection of the legitimate rights and interests of small and medium-sized investors in the capital market (GBF [2013] No. 110) and the guiding opinions on matters related to initial public offering, refinancing and dilution of immediate return for major asset restructuring (CSRC announcement [2015] No. 31) issued by the China Securities Regulatory Commission, in order to protect the interests of small and medium-sized investors, The company has carefully analyzed the impact of this issuance of shares to specific objects on the dilution of immediate return, and the implementation is as follows:
1、 Impact of diluted immediate return on the company's main financial indicators
(I) main assumptions
1. No major changes have taken place in the macroeconomic environment, industrial policies, industrial development and product market;
2. It is assumed that the issuance of shares will be completed by the end of December 2022 (the completion time is only used to calculate the impact of the issuance on the spot return, and the actual completion time of the issuance will be subject to the approval of Shenzhen Stock Exchange and the approval and registration of China Securities Regulatory Commission);
3. When predicting the total share capital of the company, based on the total share capital of 349510030 shares up to now, only the impact of this issuance of shares to specific objects is considered, and the changes in share capital caused by other factors are not considered;
4. Assuming that the number of shares issued to specific objects this time is the upper limit of issuance, i.e. 104853009 shares, the actual issuance scale and amount of raised funds of shares issued to specific objects this time shall be subject to the number of shares and issuance results agreed by China Securities Regulatory Commission;
5. According to the annual report of 2021 issued by the company, the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses in 2021 was 3142608168 yuan. Assuming that the net profit attributable to shareholders of listed companies after deducting non recurring profits and losses in 2022 decreased by 10%, unchanged and increased by 10% respectively compared with 2021. (this assumption is only used to calculate the impact of this issuance on the main indicators, and does not represent the company's judgment on the future operation and trend);
6. The impact of possible dividends from the announcement date of the plan to the end of 2022 is not considered. This assumption is only used for prediction, and the actual dividends are subject to the announcement of the company;
7. The impact of this issuance on the immediate return is calculated without considering the impact of equity incentive plan and raised funds on the issuer's production and operation, financial status and other factors;
8. The hypothetical analysis of the company's financial data in 2022 is not the company's profit forecast. Investors should not make investment decisions based on it. If investors make investment decisions based on it and cause losses, the company will not be liable for compensation. (II) impact on the company's main financial indicators
Based on the above assumptions, the impact of diluted immediate return on the company's main financial indicators is compared as follows:
Project year 2021 / year 2021 / December 31, 2022
Before and after the offering on December 31, 2013
Total share capital (shares) 349510030349510030454363039
Suppose I the net profit attributable to shareholders of listed companies after deduction of Non Profits in 2022 is 10% lower than that in 2021
Net profit attributable to shareholders of the listed company after deduction of non profits 314260816828283473512828347351 (yuan)
Basic earnings per share after deduction (yuan / share) 0.0899 0.0809 0.0622
Diluted earnings per share after deduction (yuan / share) 0.0899 0.0809 0.0622
Assuming that the net profit attributable to the shareholders of the listed company in 2022 after deducting non profits is the same as that in 2021
Net profit attributable to shareholders of the listed company after deduction of non profits 314260816831426081683142608168 (yuan)
Basic earnings per share after deduction (yuan / share) 0.0899 0.0899 0.0692
Non diluted earnings per share (after deduction of 0800899 yuan / share)
Assumption III net profit attributable to shareholders of listed companies after deduction of Non Profits in 2022 increased by 10% compared with that in 2021
Net profit attributable to shareholders of the listed company after deduction of Non Profits: 31426081683456868985345686868985 (yuan)
Basic earnings per share after deduction (yuan / share) 0.0899 0.0989 0.0761
Diluted earnings per share after deduction (yuan / share) 0.0899 0.0989 0.0761
2、 Risk tips on this issuance of diluted immediate return to specific objects
After the funds raised this time are in place, the total share capital and net assets of the company will increase by a certain extent. In the short term, the growth rate of the company's net profit may be lower than that of the total share capital and net assets, resulting in a certain decline in financial indicators such as earnings per share. Investors are hereby reminded to pay attention to the risk that this issuance may dilute the immediate return.
3、 The necessity and rationality of the board of directors choosing this financing
(I) comply with the industrial development trend and optimize the product structure
In recent years, the sales volume of small spacing LED display products has increased rapidly, which has become the main driving force for the growth of LED display application market. According to AVC data, in 2019 and 2020, the market scale of China's small spacing LED display screen was 10.37 billion yuan and 11.8 billion yuan respectively, with a year-on-year growth rate of
55.2% and 13.79%. In 2021, the market sales of small spacing LED display screen in China was about 18.15 billion yuan, with a year-on-year increase of 53.9%.
According to ovicloud, the sales of small spacing products with a point spacing of 2.5mm-2.1mm decreased by 4.9% year-on-year in 2019. At the same time, small spacing products with a point spacing of 1.4mm-1.2mm grew the fastest, with a year-on-year increase of 64.2%. In the first half of 2020, compared with the first half of 2019, the market share of cob display screen in small spacing LED display screen increased from 8.0% to 8.6%. It can be seen that the trend of LED display screen industry spacing miniaturization is gradually obvious, and the market scale of cob small spacing LED display screen will be gradually increased.
Therefore, the company needs to comply with the industrial development trend, and plans to expand the production capacity of micro LED display products based on cob technology by issuing funds to specific objects, improve the proportion of production and sales of high-end and high gross profit products in the company's product structure, and further optimize the product structure.
(II) increase market share and industry position
With the continuous maturity of process technology and the continuous improvement of market awareness, cob micro LED display products will further obtain broad market prospects in various application fields of small spacing LED display products, especially in the field of high-definition display, with their characteristics of high stability, convenient maintenance and viewing comfort. Under the above background, the company can stabilize its position in the industry and improve its profitability only by closely following the changing trends of the industry and the market and constantly launching products that meet the market demand. Therefore, the construction of cob micro LED display panel project is the inevitable choice for the company to meet the market demand.
After years of R & D investment and technology accumulation, the company's cob technology is becoming more and more mature and has reached the international advanced level. Combined with advanced LED integrated packaging technology, LED intelligent display control technology and a series of technological breakthroughs, the company successfully developed small spacing micro LED display panel in November 2017 and began mass production and sales in 2018. The company's cob micro LED display panel technology is mature, and the products have the advantages of high density, high reliability, high contrast, high resolution, high protection level, high gray scale, low use cost and so on. In March 2019, the company released 8K micro LED display with pixel spacing of 0.9mm. On February 11, 2020, at the Netherlands international audio visual and system integration Exhibition (ISE), the company launched a 324 inch ultra-high definition 8K micro LED display with pixel spacing of 0.6mm based on cob technology, which laid a foundation for the popularization of micro led in the future. Up to now, the company has released P1 9、P1. 5、P1. 2、P0. 9 and P0.05 6 five types of small spacing micro LED displays have reached the international advanced level in technology accumulation in related fields.
Compared with the SMD small spacing LED display products mainly used by competitors, the company's cob small spacing LED display panel has unique production technology and excellent product performance, which can form a competitive advantage. After the implementation of the raised investment project issued this time, the production capacity of the company's Micro LED display products based on cob technology will increase, the economies of scale and supply capacity will be further improved, and its share in the small spacing LED market is expected to increase significantly, so as to enhance the company's industry position.
(III) enhance the company's sustainable profitability and maximize the interests of shareholders
The company's Micro LED display technology based on cob integrated packaging technology, as a new generation of ultra-high definition display technology, will play an important role in the ultra-high definition display industry and gradually become the mainstream of the display product market of more than 100 inches. The above technologies are the strategic layout of 5g + 8K UHD smart display terminal application under the background of UHD industry development and "new infrastructure". First of all, relying on the characteristics of 5g such as high speed, low delay, wide connection and natural cross-border integration attributes, ultra-high definition video is the general trend in the future. Ultra high definition video will deeply enable the large screen end, led ultra-high definition display will give birth to many application scenarios in the future, and 4K and 8K high-definition video will be put into commercial use first; In the field of integration of 5g and remote conference system, the company launched 5g high-definition intelligent conference system based on micro led ultra-high definition display to create a complete set of conference system solutions with high-definition display for users. Secondly, the development of data center, intelligent computing center, intelligent transportation infrastructure and intelligent energy infrastructure, as important contents of new infrastructure, will accelerate the company's large-size micro led ultra-high definition display, which is widely used in the field of data visualization of science and education, transportation, energy, military industry and other systems.
The development of the company's high-definition LED panel investment strategy and the overall development direction of the company's high-definition LED panel industry are in line with the expected economic development direction of the country, which shows that the company's high-definition LED panel investment and distribution project has a good prospect in the future. After the implementation of the raised investment project, micro led ultra-high definition display panel will become an important profit growth point of the company in the future, which will help to improve the profitability of the company, enhance the sustainable profitability of the company and maximize the interests of shareholders.
(IV) enhance the company's capital strength and ensure the realization of the company's strategic objectives
In order to comply with the industrial development trend and further optimize the company's product structure, the company has determined the micro LED display panel based on cob technology as the strategic focus in the future. It plans to further increase the investment in this field, expand the existing production capacity, improve the company's high-end market share in the small spacing display screen, and further improve the company's market competitiveness and sustainable profitability.
