On November 30, the National Development and Reform Commission along with 13 other ministries and commissions released the "13th Five-Year Development Plan for Semiconductor Lighting Industry" (hereinafter referred to as the "Plan"). This plan aims to ensure that by 2020, China's semiconductor lighting key technologies will see continuous breakthroughs. It targets an overall output value in the trillions, with at least one or more LED lighting companies achieving sales exceeding 10 billion yuan, and creating one or two globally renowned brands.
The "Plan" proposes to promote industrial upgrades by encouraging LED lighting companies to merge and consolidate, thereby growing larger and stronger. It also encourages fostering leading enterprises with international competitiveness, promoting regional industrial clusters, and driving differentiated development.
In the view of industry insiders, the issuance of the "Plan" is very timely. It will effectively address many challenges currently faced by China's LED industry, creating a favorable industrial environment. Especially, the encouragement for mergers and acquisitions will significantly promote China's LED industry and enterprises' transition towards becoming larger and stronger.
Gaogong LED has already conducted a series of merger and acquisition activities within the LED industry in the first half of 2017. It is hoped that many LED companies can find their own development paths through these mergers and acquisitions.
In July, Lu Yitong planned to acquire Shenghui Electronics with a budget of 2 billion yuan. Lu Yitong (300423) disclosed a report on significant asset restructuring on the evening of July 11, stating that the company plans to issue shares and pay cash, totaling 2 billion yuan to acquire 100% equity of Guangdong Shenghui Electronics Holdings Co., Ltd., and to raise matching funds not exceeding 605 million yuan to cover the cash portion of this transaction.
Shenghui Electronics is engaged in R&D, production, and sales of complete electrical equipment and LED lighting products. Its revenue in 2016 was 913 million yuan, with a total performance commitment of no less than 655 million yuan over the next three years.
Yuanheng Optoelectronics acquired 95% equity of Yuanheng Ruigan. Yuanheng Optoelectronics released the acquisition report. According to the report, in this acquisition, the buyer acquired a 95% equity interest in Yuanheng Ruigan, the controlling shareholder of Yuanheng Optoelectronics, in cash.
Yuanheng Optoelectronics mentioned that the purpose of this acquisition was based on the recognition of Yuanheng Optoelectronics' management and development strategy and optimism about the company’s future prospects. Through this agreement, the company obtained a 95% stake in Yuanheng Ruigan and indirectly in Yuanheng Optoelectronics Co., Ltd., aiming to obtain investment income rather than seeking control over Yuanheng Optoelectronics.
In June, OSRAM acquired LED Engin Inc. for special lighting layouts. OSRAM issued a press release stating that the company will acquire LED supplier LED Engin Inc. Based in San Jose, Calif., with nearly 30 employees and annual sales of around $10 million, the company specializes in providing ultra-bright professional market lighting solutions for entertainment, UV, gardening, white light, and medical lighting applications using LED chips from OSRAM Opto Semiconductors.
In May, Foxconn's parent company acquired a Micro LED startup. Foxconn's parent company, Hon Hai Group, plans to acquire a next-generation display technology through its four companies, purchasing a startup in California named eLux. The company is developing assembly technology for Micro LED displays that will accelerate the commercial adoption of Micro LED technology.
Hon Hai and Sharp acquired the US eLux. To lay out the most promising new generation display technology Micro LED after OLED, Hon Hai Group will not let South Korea's Samsung and the US's Apple continue to lead in research and development. It is estimated that it will cost more than NT$800 million through its venture capital company and Innolux Optoelectronics, Japan Sharp, and its LED packaging factory Rongchuang Technology and other four companies, jointly acquired the US startup eLux, and strive to commercialize Micro LED technology.
OSRAM acquired a German plant lighting startup. On May 18th, OSRAM announced the acquisition of a stake in a German startup, Agrilution, to capture plant lighting. OSRAM has previously developed lighting solutions for greenhouse plants, and the smart home appliances developed by Agrilution can be used to identify the seeds grown in the cabinets and to automatically adjust the temperature, watering and lighting after applying the LED lighting technology from OSRAM. These conditions allow users to grow flowers, vegetables and vegetables without being affected by the weather.
Feile Audio acquired the equity of two lighting companies. Feile Audio announced on the evening of May 16 that the company intended to acquire a 20% stake in Feilo Malta Limited (FML), a lighting products company owned by HHL, through the wholly-owned grand company IUL for 34.5 million euros, and intended to wholly fund through FML. The subsidiary acquired a 100% stake in Havells Sylvania (Thailand) Limited, a Thai lighting products company owned by TLACL, for a price of 1.6 million euros.
Yuanfang Optoelectronics acquired 35% equity of Huijing Technology. Yuanfang Optoelectronics (300306) issued a notice on May 11th regarding the use of its own funds to set up a partnership to acquire part of the shares of Hangzhou Huijing Technology Co., Ltd.
After the acquisition, the company's business will expand to the rail transit field. The company will seize the country's development opportunities in rail transit, and actively deploy high-speed rail and other rail transit intelligent detection technology and products, as well as related artificial intelligence technology and products. It will also grasp the timing of the implementation of the "One Belt, One Road" strategy, and further expand the business scope and scope of Huijing Technology and the company.
Huacan Optoelectronics acquired MEMSIC through CFIUS audit. Huacan Optoelectronics (300323) announced that the company received a confirmation letter from CFIUS on May 9, stating that the company acquired 100% equity of Harmony Corelight (Yiwu) Optoelectronics Technology Co., Ltd., and Harmony Core Photonics acquired MEMSIC, Inc. 100% equity has passed the CFIUS review.
Chinese acquisition of Japan Nitto fluorescent film project. At the beginning of May, the lighting industry made another major news. Zhongshan City Stereo Optoelectronics Technology Co., Ltd., which has been committed to promoting the development of domestic CSP, acquired the Nitto fluorescent film project in Japan.
Hongli Zhihui acquired an LED car lighting company. Hongli Zhihui (300219) announced on the evening of May 2 that it plans to acquire a 51% stake in Danyang Yishan Auto Lamp Equipment Manufacturing Co., Ltd. (hereinafter referred to as “Yishan Car Lightâ€). The company is engaged in the LED automotive lighting industry, with a total commitment of 218 million yuan in the next four years.
In April, Chau Ming Technology intended to acquire a shareholding in Aiga Lighting. Zhou Ming Technology (300232) announced on April 25 that it intended to acquire 65% of Aiga Lighting's equity of no more than RMB 95 million. The acquiree promised that the net profit of 2017/2018/2019 is not less than 11 million / 14.3 million / 18.59 million yuan.
Foshan Lighting acquired 32.85% stake in Nanhe Industrial. Shenzhen New Third Board Company Nanhe Mobile recently announced that Foshan Lighting purchased a 32.85% stake in Nanhe Industrial held by Baiya Company for 180 million yuan.
The announcement shows that Foshan Lighting holds a 32.85% stake in Nanhe Industrial after the completion of the equity acquisition. In addition, Foshan Lighting's Consensus Action Electronics Group holds a 34.30% stake in Nanhe Industrial.
Foxconn plans to acquire Toshiba chip business for US$27 billion. On April 11, it was reported that Foxconn told Toshiba that it was ready to acquire Toshiba's computer chip business at a price of up to 3 trillion yen (about 27 billion US dollars). Due to the huge investment in nuclear reactor construction projects in the United States, Toshiba is looking to sell assets to keep the company running.
In March, Delenda acquired 75% stake in Zhonghui Lighting. De Runda announced on March 13 that the company plans to acquire 75% of the equity of Puyang County Zhonghui Lighting Materials Co., Ltd. for RMB 18,000.
The company said that through this acquisition, Puyang County Zhonghui Lighting Materials Co., Ltd. will become a holding company of the company, which will help to further enrich and improve the company's industrial layout, expand business areas, enhance the company's future profitability, and at the same time create conditions for a subsidiary in the future for technology introduction and financing.
Yi'an Technology spent 220 million yuan to acquire an LED silicone enterprise. Dongguan Yi'an Technology (300328) issued an announcement to use its own funds to acquire 100% equity of Shenzhen Opt Industrial Materials Co., Ltd. at a price of 220 million yuan. After the completion of the transaction, Opt became a wholly-owned subsidiary of Yi'an Technology.
Mulinsen's acquisition of the Roundmans transaction was completed. Mulinsen announced on March 5 that the company's investment in the partnership, the company's subsidiary, Mingxin Optoelectronics and LEDVANCE GmbH's original shareholder OSRAM GmbH, LEDVANCE LLC's original shareholder OSRAM SYLVANIA INC. completed the equity delivery of the transaction. At this point, Mingxin Optoelectronics holds a 100% stake in LEDVANCE and has successfully completed this overseas equity acquisition transaction.
Qinshang Shares plans to acquire 100% equity in Chengdu. Qinshang shares announced on March 13 that the company plans to acquire 100% equity of Chengdu Gunda Investment Development Co., Ltd., and indirectly acquire 100% equity of Chengdu Qizhong Experimental School held by Chengdu Dacheng.
Liard plans to acquire 248 million yuan for Junze Lighting. Liard issued a notice on the afternoon of March 2, stating that the company intends to acquire a total of 248 million yuan in cash for the acquisition of Xinyu High-tech Zone Junchen Investment Management Partnership (Limited Partnership) and Xinyu High-tech Zone Junling Investment Management Center (Limited Partnership). Hunan Junze Lighting Design Engineering Co., Ltd. (referred to as “Junze Lightingâ€) 100% equity.
In February, American LSI Corporation acquired Atlas Lighting. On February 21, LSI Industries Inc. announced that it had completed the acquisition of all of Atlas Lighting's share capital, which is the entry of Burlington quality LED lighting products into the distribution market.
Infineon's purchase of the Career Wolfspeed case was terminated. Cree announced on February 16 that it will discontinue the Wolfspeed Power and RF Division ("Wolfspeed") sale, which includes silicon carbide (FSE: IFX / OTCQX: IFNNY) power supply, substrate business for RF and gem applications. Cree and Infineon were unable to determine alternatives to national security issues of concern to the US Foreign Investment Committee (CFIUS) and therefore the proposed transaction would be terminated.
Osram acquired Maneri-Agraz. OSRAM released a press release on February 6th, which acquired Maneri-Agraz, a lighting service provider based in Houston, Texas, to provide energy-efficient lighting solutions for commercial and industrial facilities, with annual revenues of thousands. Ten thousand U.S. dollars.
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