After a series of dazzling equity trading activities, NVC Lighting was once again involved in the whirlpool of public opinion. Last weekend, in response to rumors such as “cash-for-profit†and “continuing to fight with investors headed by 阎焱â€, NVC founder Wu Changjiang accepted an exclusive interview. He revealed the exchange with Dehao Runda for the first time. The stock plan is a "temporary decision" after the proposed DHL, not a so-called "trap", Wu Changjiang directly denied that the share swap is related to the previous infighting incident.
Denying a well-designed share swap
"The details of the stock exchange plan are different from the speculations of the outside world." Wu Changjiang said. He pointed out that NVC and Dehao had previous cooperation in procurement business. Both parties also hoped to carry out in-depth cooperation including equity. Until Dehao suspended, Wu Changjiang also suggested that Dehao should consider buying shares of other shareholders. "But the other party said that they would be able to cooperate with my own interests in order to cooperate deeply." In this context, the two sides have come up with a share swap plan.
In this program, Wu Changjiang transferred about 11.8% of the shares of NVC Lighting to DHL, retaining 6.79% of the shares. Dehao will hold a 20.05% stake in NVC Lighting and become the largest shareholder of NVC Lighting, with a total investment of HK$1,654 million (approximately RMB 1.343 billion); Safran Asia and Schneider Electric, headed by Germany They are the second and third largest shareholders of NVC Lighting, holding 18.48% and 9.21%.
Dehao plans to issue shares privately and is subscribed by the company's controlling shareholder and Wu Changjiang. Among them, Wu Changjiang subscribes for 130 million shares. The industry estimates that Wu Changjiang will become the second largest shareholder of Dehao after the shareholding.
Wu Changjiang expects that the plan will be completed before the Spring Festival after the approval process.
Since May last year, Wu Changjiang has withdrawn from the board of directors for personal reasons. Wu Changjiang and Saifu and Schneider’s infighting incidents surrounding Wu Changjiang’s return to the board of directors have been raging. After several toss, Wu Changjiang still has not served as the board of directors. position. The outside world believes that Wu Changjiang’s strategy of joining hands with Dehao is “to retreat†and to control the NVC by becoming the second largest shareholder of Dehao.
Introducing Dehao is "leading the wolf into the room"?
Wu Changjiang, who is most concerned about the outside world, means that he will once again fight against the headed investors. Wu Changjiang said that he has no intention of fighting with various shareholders and will try his best to avoid recurrence.
He also revealed that he is not as repulsive to the transaction as the outside world imagined. According to Wu Changjiang's feedback, he has communicated with him and he affirmed the cooperation with Dehao.
As for when to return to the board of directors and to serve as the chairman of the board, Wu Changjiang said that he is not too concerned about these points. He also stressed that the re-election of the board of directors should follow the company's charter, but that "in the common sense, as a major shareholder and founder with more than 5% equity, I should have a place."
It is speculated that if Wu Changjiang returns to the board of directors, plus two seats of Dehao and Mu Yu, who is already on the board of directors, the "Wu Pai" members will reach 4, so that they have the right to speak on the board.
It is worth noting that there is a saying that the introduction of Dehao is “leading the wolf into the room†and laying the ground for the next stage of shareholder disputes. Wu Changjiang responded that the outside world habitually puts the interests of shareholders on the opposite side. This is not the case. It is pointed out that he and the chairman of Dehao, Wang Donglei, "have the same entrepreneurial experience and a high degree of understanding of the industry and the lighting industry." Wu Changjiang said that as long as he manages NVC well, he believes that Wang Donglei can continue to receive support.
LED industry will set off a new round of shuffling
Wu Changjiang explained that the purpose of this transaction pointed out that the development and popularization of LEDs make traditional lighting enterprises face enormous challenges. If they do not transform, they will be eliminated. NVC's advantage lies in its brands and channels, while Dehao has the advantage of upstream technology. LED has a strong competitive advantage in the entire industry chain.
However, the capital market has reacted negatively to the transaction. On the day of the plan disclosure, NVC's share price in Hong Kong fell nearly 10%, and Dehao also fell nearly 4% in A shares.
In this regard, Wu Changjiang believes that the market is nothing more than worrying that he "carry away the abandonment of NVC", but he did not cash in at all, and the stocks issued by Dehao are still locked for three years.
Wu Changjiang also said that after the introduction of Dehao, NVC will set off a new round of reshuffle in the LED market. Wu Changjiang believes that more than 80% of the LED market will die, and only companies with technology and channel advantages can stand out.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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