On April 14, 2017, Huacan Optoelectronics announced the general risk warning announcement for major asset restructuring matters. The company said that it intends to purchase 100% equity of the standard company Harmony Corelight (Yiwu) Optoelectronics Technology Co., Ltd. by issuing shares to purchase assets. The previous transaction was a subsidiary of Harmony Core (Yiwu) Optoelectronics Technology Co., Ltd. to acquire 100% of MEMSIC, Inc. in cash.
On May 9, 2017, Huacan Optoelectronics (300323) announced that the company received a confirmation letter from CFIUS, the company acquired 100% equity of Harmony Corelight (Yiwu) Optoelectronics Technology Co., Ltd., and Harmony Core Photonics acquired MEMSIC, Inc. The 100% stake has passed the CFIUS review.
Huacan Optoelectronics said that the transaction still needs the completion of the previous transaction, the re-examination of the company's board of directors, the approval of the company's shareholders meeting, the approval of the CSRC, the approval of the Ministry of Commerce, etc. The time for obtaining the above approval and the final approval will exist. Uncertainty.
On July 31, 2017, Huacan Optoelectronics announced that the company decided to apply to the China Securities Regulatory Commission for the suspension of the issuance of shares to purchase the equity of Harmony Corelight (Yiwu) Optoelectronics Technology Co., Ltd.
In order to effectively protect the interests of all shareholders and better protect the interests of small and medium shareholders, the company held the third meeting of the third board of directors on July 29, 2017, and reviewed and approved the “Proposal on Suspension of Major Assets Restructuringâ€. After careful study, and in consultation with the parties to the transaction, it was decided to suspend the review of the company's assets for the issuance of shares, and submit an application for suspension of the review to the China Securities Regulatory Commission. When the conditions are ripe, choose to start.
On November 7, 2017, Huacan Optoelectronics announced in the morning that the relevant intermediaries have completed the supplementary audit of the target company on June 30, 2017 as the base date, and the company and various intermediaries have reorganized the report. The financial data involved in the book was updated. The company decided to apply to the China Securities Regulatory Commission to resume the examination of the application documents for the purchase of shares in this issue, and continue to promote the review of the assets purchased for this issue. The company has reviewed and approved the “Proposal on Application for Restoration and Review of Major Assets Restructuring†on November 6, 2017 at the Ninth Board of Directors.
According to the announcement, the company intends to purchase 100% equity of Harmony Corelight (Yiwu) Optoelectronics Technology Co., Ltd. from New Sure Limited and Yiwu Harmony Corelight Equity Investment Partnership (Limited Partnership) by issuing shares to purchase assets. Can Optoelectronics intends to raise matching funds to no more than 5 eligible investors for the inquiry. The price of the shares purchased is 6.90 yuan/share. The total amount of funds raised does not exceed 200 million yuan. The success of the fund raising of the matching funds does not affect the implementation of the assets purchased by the issuing shares.
Based on December 31, 2016 as the base date, the estimated value of the underlying assets was 1,71,923,400 yuan. The target company Harmony Optoelectronics itself has no actual business operations. The main assets are the target companies MEMSIC, Inc. held by its Hong Kong subsidiary. 100% equity. Referring to the evaluation value of the 100% equity of the above-mentioned target company, the transaction amount of this transaction is 1.65 billion yuan.
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