Depu Group plans to acquire LED street light business in the Mainland

On January 25th, Depu Technology announced that the Group intends to acquire a 50% interest in the Target Group for RMB 320 million. The Target Group refers to the target and Shenzhen Fengguang New Energy, which mainly manufactures, assembles, installs and repairs LED street lights in China; Development and production of vertical axis wind and solar hybrid power supply system, the Target Group's net profit after tax for the year ended last year, the net profit after tax was 5.12 million yuan, and the net asset value was 84.88 million yuan.

Depu Technology stated that 200 million yuan of the acquisition consideration was paid in cash, the remaining 100 million yuan was paid by allotment of shares, and 20 million yuan was paid by issuing promissory notes.

Depp Technology intends to issue 2 million shares per share, which is a discount of approximately 0.5% to the closing price of the previous day. The allotment shares account for 6.67% and 6.25% of the existing and enlarged issued share capital, respectively. After that, the chairman of the board of directors Yan Qixu controlled the shareholding of Tongheng will be diluted from 52.4% to 49.13%.

The above content is provided by WOSEN. WOSEN is a professional manufacturer and supplier of Led Flood Light, Led Street Light, Led Solar Light, etc. For more information, please visit https://www.wosenled.com/ or contact admin@wosenled.com or WhatsApp +86-13425434349