Foshan Lighting (000541) suffered setbacks in the diversification of new energy fields. The company transferred 51% equity of Qinghai Fozhao Lithium Electrode Material Co., Ltd., and decided to sue another new energy subsidiary, Qinghai Folu Lithium Energy Development Co., Ltd., due to repayment dispute.
Foshan Lighting recently announced that on August 27th, the company and Wuxi Tuohai Investment Co., Ltd. signed the “Equity Transfer Agreement of Qinghai Foshao Lithium Electrode Material Co., Ltd.â€, and transferred 51% equity of Qinghai Fozha Lithium Electrode Material Co., Ltd. For Wuxi Tuohai Company, the transfer price is 100.17 million yuan. After the completion of the equity transfer, the company no longer holds the equity of Qinghai Fozhao Lithium.
As of June 30, 2013, the total assets of Qinghai Fozhao Lithium Battery was 35.428 million yuan, the book value of net assets was 222.5858 million yuan, the estimated value was 17.819 million yuan, the amount of impairment was 4,438,900 yuan, and the impairment rate was 19.94%. Based on the above evaluation price, the equity transfer price was determined to be 100.17 million yuan.
The lack of development of new energy business has become the most important reason for Foshan Lighting to sell equity. The company said that the initial investment in Qinghai Foshao Lithium was to promote the development of the company's new energy industry chain. However, due to factors such as market sales channels, Qinghai Fozhao Lithium Battery has not been able to operate normally, and audited by accounting firms. As of June 30, 2013, the accumulated loss was 19,725,000 yuan. In order to avoid further expansion of losses, reduce investment risks, and concentrate on developing the main business, the company's board of directors agreed to transfer 51% of Qinghai Fozhao Lithium.
Foshan Lighting announced on the same day that due to the long period of time owed by Qinghai Fozha Lithium Energy Development Co., Ltd., the company has repeatedly failed to collect and recover in the past three months, and decided to file a lawsuit against Buddha Lithium Energy immediately.
Announcement disclosed that on January 21, 2013, Foshan Lighting entrusted Minsheng Bank with a loan of RMB 43.32 million to Foguang Lithium Energy, and agreed to pay the repayment date on May 20, 2013, with one-time repayment of principal and interest. However, as of August 26, 2013, Foshan Lithium Energy has not returned the loan and interest. According to the data, Foshan Lighting holds a 38% stake in Lizhao Lithium Energy and is the largest shareholder.
According to the 2013 semi-annual report released by Foshan Lighting, during the reporting period, the company achieved operating income of 1.208 billion yuan, an increase of 13.52% over the same period of last year; net profit of 153 million yuan, an increase of 13.77% over the same period last year.
( 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. )
Foshan Lighting recently announced that on August 27th, the company and Wuxi Tuohai Investment Co., Ltd. signed the “Equity Transfer Agreement of Qinghai Foshao Lithium Electrode Material Co., Ltd.â€, and transferred 51% equity of Qinghai Fozha Lithium Electrode Material Co., Ltd. For Wuxi Tuohai Company, the transfer price is 100.17 million yuan. After the completion of the equity transfer, the company no longer holds the equity of Qinghai Fozhao Lithium.
As of June 30, 2013, the total assets of Qinghai Fozhao Lithium Battery was 35.428 million yuan, the book value of net assets was 222.5858 million yuan, the estimated value was 17.819 million yuan, the amount of impairment was 4,438,900 yuan, and the impairment rate was 19.94%. Based on the above evaluation price, the equity transfer price was determined to be 100.17 million yuan.
The lack of development of new energy business has become the most important reason for Foshan Lighting to sell equity. The company said that the initial investment in Qinghai Foshao Lithium was to promote the development of the company's new energy industry chain. However, due to factors such as market sales channels, Qinghai Fozhao Lithium Battery has not been able to operate normally, and audited by accounting firms. As of June 30, 2013, the accumulated loss was 19,725,000 yuan. In order to avoid further expansion of losses, reduce investment risks, and concentrate on developing the main business, the company's board of directors agreed to transfer 51% of Qinghai Fozhao Lithium.
Foshan Lighting announced on the same day that due to the long period of time owed by Qinghai Fozha Lithium Energy Development Co., Ltd., the company has repeatedly failed to collect and recover in the past three months, and decided to file a lawsuit against Buddha Lithium Energy immediately.
Announcement disclosed that on January 21, 2013, Foshan Lighting entrusted Minsheng Bank with a loan of RMB 43.32 million to Foguang Lithium Energy, and agreed to pay the repayment date on May 20, 2013, with one-time repayment of principal and interest. However, as of August 26, 2013, Foshan Lithium Energy has not returned the loan and interest. According to the data, Foshan Lighting holds a 38% stake in Lizhao Lithium Energy and is the largest shareholder.
According to the 2013 semi-annual report released by Foshan Lighting, during the reporting period, the company achieved operating income of 1.208 billion yuan, an increase of 13.52% over the same period of last year; net profit of 153 million yuan, an increase of 13.77% over the same period last year.
( 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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