Ledman Optoelectronics acquires 51% shares of Shenzhen Haomai Ruifeng Technology Co., Ltd.

Ledman Optoelectronics announced that it signed an agreement with Shenzhen Haomai Ruifeng Technology Co., Ltd. (hereinafter referred to as Haomai Company) on July 9, 2014, to obtain 51% of the equity of Haomai Company through transfer and capital increase. For this transfer and capital increase, Ledman Optoelectronics used a total of 22 million yuan of the company’s own funds. The performance commitment of the target party is RMB 7 million in after-tax profits in 2014, RMB 10 million in 2015, and RMB 13 million in 2016. The merger and acquisition company hired qualified accounting firms, law firms, and valuation firms to conduct a series of preliminary work, and the relevant procedures will be completed within this month.

Shenzhen Haomai Ruifeng Technology Co., Ltd. is a company whose main business is exporting LED outdoor lighting products overseas. It has strong overseas market expansion capabilities and a group of relatively mature overseas lighting customers. After the entry of Ledman Optoelectronics, it is expected that the brand + capital + market effect will be obvious.
This merger is in line with Ledman Optoelectronics’ overall strategy and is an important part of Ledman Optoelectronics’ LED lighting strategy.
Ledman Optoelectronics will continue to actively use its own financial advantages and capital market financing methods to integrate the industrial chain through mergers, acquisitions and reorganizations to achieve Ledman Optoelectronics' strategic goals.