The controlling shareholder and the actual controller complete the change, and the long-term return to the LED main business

In the past two months, the controlling shareholder of the Changfang Group has been successfully changed to Nanchang Optics Valley, and the actual controller of the company has been changed to Wang Min.

The Changfang Group announced on the afternoon of May 25 that the controlling shareholder and actual controller of the company, Deng Zichang, Deng Ziquan, Deng Zihua, Deng Zixian (hereinafter referred to as “Deng Brothers”) and Nanchang Guanggu Group Co., Ltd. (hereinafter referred to as “Nanchang Optics Valley”), Nanchang Xinwang Capital Enterprise (Limited Partnership) (hereinafter referred to as “Xinwang Capital”) signed the “Share Transfer Agreement” respectively. At the same time, Deng Brothers and Xinwang Capital signed the “voting power entrustment agreement” with Nanchang Optics Valley respectively. The brothers transferred part of the shares of the company they held to Nanchang Optics Valley and Xinwang Capital by means of a transfer of the agreement.

On May 25, 2018, the company received the “Securities Transfer Registration Confirmation Letter” issued by China Securities Depository and Clearing Co., Ltd. Shenzhen Branch provided by Nanchang Optics Valley and Xinwang Capital. The transfer registration procedure for this share transfer has been completed. Completed on May 24, 2018. After the completion of the share transfer, the controlling shareholder of the company was changed to Nanchang Optics Valley, and the actual controller of the company was changed to Wang Min.

The incident originated on March 27 this year, and the Changfang Group, which has been suspended for nearly a week, disclosed the new actual controller who is about to enter the market. The announcement shows that the Tang brothers signed the "Share Transfer Agreement" with Nanchang Optics Valley and Xinwang Capital respectively. The Tang brothers transferred the total of 7,847,801 shares of the unrestricted shares held in Nanchang Optics Valley through the agreement transfer method. Transfered 59,528,200 shares of unrestricted shares to Xinwang Capital, a total of 138 million shares of unrestricted shares, accounting for 17.43% of the company's total share capital.

In addition, at the same time as the equity transfer, the Tang brothers agreed to irrevocably delegate the voting rights of the 99.114 million shares (accounting for 12.56% of the company's total share capital) to Nanchang Optical Valley, and Xinwang Capital agreed to 59.258 million shares ( The voting rights and nomination and proposal rights corresponding to 7.50% of the company's total share capital are irrevocably and delegated to Nanchang Optics Valley.

Through the above operations, Nanchang Optics Valley will directly hold 7,847.81 million shares of the company, accounting for 9.93% of the company's total share capital. At the same time, Nanchang Optics Valley holds 158 million shares of the company through voting rights, accounting for 20.06% of the company's total share capital. . Nanchang Optics Valley has a total of 237 million shares in the company with voting rights, accounting for 29.99% of the company's total share capital. Xinwang Capital owns 7.5% of the shares of listed companies.

Prior to the transfer of the shares, the original controlling shareholder and the actual controller of the company's Tang brothers held a total of 41.59%. After the share transfer, the total shareholding of the Deng brothers fell to 24.16%.

Hu Jirong, director of the Changfang Group, introduced the listed company as a real public platform to solve the problem of excessive concentration of the company’s equity. At the same time, for better, faster and longer-term operation and development of listed companies, the Deng brothers passed Prudently researching and communicating, and deciding to introduce partners that meet the development strategy of listed companies, the entry of Nanchang Optics Valley and Xinwang Capital will help the company further develop its main business.

Gaogong LED noted that the company is focused on the packaging of white LEDs for lighting, and on this basis, it extends to downstream lighting applications, mainly engaged in the research and development, design, production and sales of LED lighting source devices and LED lighting products. At the same time, by purchasing the minority shareholders' equity of the holding subsidiary Kang Mingsheng in cash, further promoting the integration of the industrial chain and giving full play to the advantages of the industrial chain, the two parties will jointly create a new era of "off-grid" lighting.

In order to strengthen its main business and focus on off-grid lighting, the Changfang Group further strengthened its holding of Kang Mingsheng. On the evening of May 15th, the company announced that the company intends to purchase a 35.7454% stake in the target company held by Li Dichu, Nie Wei, Nie Xianghong, Li Xichu and Kang Mingsheng employees by paying cash; At the price of RMB 15.65 per share, the purchase of Kang Mingsheng held by other shareholders other than the above-mentioned 29 shareholders shall not exceed 8,994,000 non-restricted shares at a price of RMB 15.65 per share. The total transaction consideration shall not exceed one. .41 billion yuan. Upon completion of the transaction, the shares held by the Changfang Group in Kang Mingsheng will increase from 55.8784% to 91.6238%-100%.

The introduction of Nanchang Optical Valley is also an LED enterprise, with the original technology of intellectual property silicon substrate LED, this technology has broken the monopoly of the United States and Japan in the field of LED technology. With silicon substrate LED technology as the core, it is arranged around the LED industry. Through cooperation with the government, universities and related scientific research institutions, it promotes the transformation of original technology advantages into industrial advantages and expands the LED industry scale.

By introducing a new controlling shareholder and further controlling the subsidiary Kang Mingsheng, it can be seen that after the failure of the transitional education, Kang Mingsheng once again focused on the LED industry. By creating a real industry platform and public platform, we will wait and see how the future development of the LED industry and “off-grid” lighting will be in the future!

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