55. 600 million to sell core assets leishi lighting designed to revitalize the two listed companies?

On August 11, the evening, leading enterprises leishi lighting lighting areas ( 02222，HK) Announcement, said plans to sell its 70% stake in China lighting business to kohlberg kravis Roberts, trade total consideration about 7. 9. 4 billion dollars ( According to the exchange rate on August 12, RMB 5. 6 billion) 。 On the news, 12, the company shares rose 57. 14%. According to the daily economic news 'reporter understanding, leishi lighting China business including huizhou leishi lighting group and its subsidiaries, is the core of leishi lighting assets. Last year, the assets bring leishi lighting more than two-thirds of the revenue, someone describes it as the best 'son' leishi lighting. So why is leishi lighting to sell the assets? And how the business logic? On August 12 in the afternoon, chairman of leishi lighting Wang Donglei accepted reporter's interview, for the interpretation of the trade related issues. Wang Donglei explain why to sell core assets of public information, KKR group is one of the world's oldest private equity investment institutions. KKR expensively acquired leishi lighting lighting business in China, attracted wide debate the personage inside course of study. According to the announcement, the two sides will set up a joint venture company, the China lighting leishi lighting business into it. After the completion of the acquisition, kohlberg kravis Roberts holds a 70% stake in the joint venture company, leishi lighting holds a 30% stake. Leishi lighting will be the rest of international business and domestic lighting business. Leishi lighting why would choose to sell company's core assets at this time? On 12 August afternoon, Wang Donglei response to the 'daily economic news' reporter said, leishi lighting has been in Hong Kong price has been in the doldrums, value is only hk $23 billion for a long time. Do business is for the purpose of shareholder returns, but there is no way in the Hong Kong market to solve the contradiction between earnings growth and stock prices. Now investors are willing to use a good price to buy, to maximize the interests of the shareholders, so I chose to sell. Reporter noticed that before China announced the sale of leishi lighting lighting business, the company's stock price is only 0. Hk $7 per share. And keep in international business, China lighting business and a 30% stake in China lighting business conditions, shareholders can also get 0 per share. The dividend of hk $9. Compared before and after the sale of assets, Wang Donglei said: 'let all sell equity investors, also can't take back so much money. 'In addition, also expect after KKR incoming leishi lighting, can bring to the company more high-speed growth. Wang Donglei said, KKR can give company international eyeshot and advanced management experience, of course, the management of pressure will be greater. After selling China lighting business, leishi lighting will be how to position again? Leishi lighting Wang Donglei points out, the follow-up will focus on two pieces of business: one is the overseas market, leishi lighting in the United States a year with a $100 million profit, in the UK market has a profit, also maintained a good momentum of development in the Middle East. At the same time, leishi lighting has a factory in Vietnam, will be more efforts to develop the southeast Asia market. The second is the company pay more attention to high value part of the smiling curve, such as science and technology, design, brand, channel these aspects. According to the agreement, the joint venture company after the establishment, KKR will send three directors, leishi lighting will send two directors. Wang Donglei argues that, after the completion of the acquisition, the joint venture company will not necessarily have a big adjustment, but the growth target would be higher. For the current dealer team, Wang Donglei said leishi lighting the way forward, in the future will be and dealers at all levels, support each other and common development. Leishi lighting forever with dealers, support dealers, assigned to the dealer. Bdo * ST shares harden if leishi lighting problem is a long-term downturn in the stock market is difficult to reflect the value of the company. So, Wang Donglei control another, leishi lighting single largest shareholder of listed companies - — * ST bdo ( 002005，SZ) , face is a must in this year 'to pick a hat'. After two years of losses, due to previous bdo, * ST bdo has become now. This also means that if still unable to turn a profit this year, the company has serious risk of delisting. However, * ST bdo face of external environment and internal environment are not optimistic. Look from the outside, because one of the main business of chip industry is in a state of excess capacity continuously, * ST bdo short-term can't see the possibility of the business profit, eventually the company decided to shut down the LED chip plants. Wang Donglei said, * ST bdo current capacity is located in the fourth national, even so, his company's production capacity can meet the national market. In his view, the LED chip business is in a state of serious excess capacity, and stick to it will only lead to greater losses. Look from inside, because the company failed to profit for two years, the investment of shareholders does not implement value maintained and added, also once appeared some contradictions between the shareholders. 'This year, all management and shareholders of target, is to pick a hat. 'Wang Donglei said. 'Daily economic news' reporter analysis found that the leishi lighting part of the sale of assets, or will bring * ST bdo removable cap positive impact. At present, * ST bdo as the single largest shareholder of leishi lighting, after delivery to complete the cash consideration, leishi lighting will be distributed to the shareholders at 0. Special dividend of hk $9. This means that, * ST bdo will get a huge return on investment. Or is on the news on August 12, * ST shares bdo harden. Each by the reporter GuoRong Village each edit Wei Guanhong ( Editor: chen-xi wang)