The announcement shows that in order to promote the sustained, rapid and steady development of its wholly-owned subsidiary Mulinsen General, Mulinsen plans to increase its capital by 95 million yuan with self-raised funds. The capital increase price is 1 yuan for every 1 yuan of registered capital. After the capital increase, the registered capital of Mulinsen General will increase from 5 million yuan to 100 million yuan.
Mulinsen General’s equity structure after the capital increase is completed
Mulinsen General was established on July 31, 2020. Its business scope includes general projects: electronic component manufacturing; electronic product sales; lamp sales; lighting equipment sales; electrical equipment sales; distribution switch control equipment sales; smart home consumer equipment sales; display device sales; hardware product wholesale, etc.; sanitary ceramic products sales; sanitary ware sales, etc.
In terms of financial data, as of March 31, 2024, Mulinsen General's unaudited total assets were 1.231 billion yuan, total liabilities were 1.203 billion yuan, and total owners' equity was 27.6321 million yuan; between January and March 2024, the company achieved operating income of 386 million yuan and operating profit.The profit was 2.1882 million yuan and the net profit was 1.6239 million yuan.
In addition, Mulinsen plans to increase capital by 300 million yuan to its subsidiary Mulinsen Optoelectronics with self-raised funds. The capital increase price is 1 yuan for every 1 yuan of registered capital. After the capital increase, the registered capital of Mulinsen Optoelectronics will increase from RMB 300 million to RMB 600 million.
The equity structure of Mulinsen Optoelectronics after the capital increase is completed
Mulinsen Optoelectronics was established on July 1, 2019. Its business scope includes the production and sales of light-emitting diodes, liquid crystal displays, LED lighting series products and materials, electronic products, various lighting fixtures, lighting decorations, and electronic packaging materials; the import and export business of the above products and domestic trade; energy-saving technology research and development services, contract energy management, etc.
In terms of financial data, as of March 31, 2024, Mulinsen Optoelectronics’ unaudited total assets were 2.793 billion yuan, total liabilities were 2.427 billion yuan, and total owners’ equity was 367 million yuan; between January and March 2024, the company achieved operating income of 525 million yuan, operating profit of 31.2621 million yuan, and net profit of 28.6295 million yuan.
After the completion of this capital increase, Mulinsen General and Mulinsen Optoelectronics will remain wholly-owned subsidiaries of Mulinsen.
Mulinsen stated that this capital increase in Mulinsen General and Mulinsen Optoelectronics is based on the business development needs of its subsidiaries., is conducive to the development of the company's business and is in the interests of the company and all shareholders. This capital increase is an increase in capital for subordinate subsidiaries, and the risks are controllable. At the same time, the company will further strengthen the supervision and management of subordinate subsidiaries through increasingly perfect internal control management systems, and actively prevent and respond to related risks.
It is understood that Mulinsen focuses on deepening and expanding its two core businesses of brand lighting and LED intelligent manufacturing.
In overseas markets, the company has international brands such as "LEDVANCE" and "SYLVANIA", and its products cover various new lamps, intelligent lighting solutions and LED-related electronic components; in the domestic market, the "Mulinsen" brand products cover intelligent lighting, plant lighting, photovoltaic energy storage and air purification and other fields.
In terms of smart manufacturing business, Mulinsen actively explores the application of new packaging technologies and promotes the innovation of advanced product packaging technologies such as small pitch and Mini/MicroLED. In 2023, its high-end RGB small-pitch Mini LED and Micro LED display product manufacturing projects were signed with the Jinggangshan Economic Development Zone, with a total project investment of 2 billion yuan.
In terms of performance, in 2023, Mulinsen achieved revenue of 17.526 billion yuan, a year-on-year increase of 6.17%; the net profit attributable to shareholders of listed companies was approximately 430 million yuan, a year-on-year increase of 121.71%.
During the reporting period, Mulinsen’s “Ledvance” brand products achieved revenue of 10606 million yuan, a year-on-year increase of 10.31%, accounting for 60.48% of the main operating income. In addition, Mulinsen's Mulinsen business, including LED packaging (lighting devices and display devices, etc.), lighting finished products, etc., achieved revenue of approximately 6.58 billion yuan.
In the first quarter of this year, Mulinsen achieved revenue of 3.999 billion yuan; net profit attributable to shareholders of listed companies was 181 million yuan, a year-on-year increase of 28.88%. Mulinsen said that in the future, the company will continue to work on multiple dimensions such as deepening technological innovation, optimizing lighting solutions, strengthening brand building, and building a global collaboration system.
ANNA