Leyard raises RMB 1.5 billion to develop its main businesses

Leyard announced a private placement last month, stating it will issue 52.82 million shares through a private placement to raise RMB 1.50 billion (US $ 225.22 million).

After deducting issuance fees of RMB 22.37 million, the company raised in total RMB 1.48 billion, and is scheduled to become listed on the Shenzhen bourse by Sept. 8, 2016.

According to the statement, the stocks were issued to five finance institutes including Caitong Fund, Huitianfu Fund Management, CITIC-Prudential Fund Management, and Huatai PineBridge Investments. The number of shares acquired and listed on the market 12 months after it is listed on the bourse, which will bring the time of circulation to Sept. 8, 2017. Based on Shenzhen Stock Exchange related operations and regulations as of Sept. 8, 2016, the shares of companies excluding rights. The private placement share price is NT $28.40.

The statement noted, the funds from the current finances were mostly related to the company’s business operations, and corresponded with China’s industry policies, and to improve development and economic benefits. In the private placement, and after completing the funds raised, especially the acquisition of Planar the company has expanded rapidly overseas. The company operations have also grown exponentially. Moreover, Planar’s market distribution channels and revenue networks have become more comprehensive to promote global industries especially overseas. Expansion of LED industry parks has constructed international LED parks, and expanded global markets in certain industries and provided protection. The new innovations gave the company competitive technology advantages and support.

Kingsun Group requests Kingsun Opto Chairman Jun Zhao to step down

Kingsun Opto announced its parent company and largest shareholder Kingsun Group, which has a 10% stake in the company, submitted two proposals regarding the replacement of Kingsun Opto chairman Jun Zhao at the fourth interim general shareholder meeting in 2016.

One of the proposals asked Zhao to resign, and the other proposal was selecting potential candidates to fill in his role.

Kingsun Group proposed to remove Zhao from his duties as Kingsun Opto Chairman, Deputy Chairman of the Board, strategic committee member, and other committee roles. The newly selected chairman will takeover company positions previously held by Zhao. The board has named Junheng Deng as the new chairman candidate, and the start date and duration of his term will be determined by the board.

CNLight subsidiary forms joint venture with foreign investors

CNLight’s subsidiary Shenzhen Wingsland Technology announced late Tuesday that the company and individual investors Jinhui Hu, Long Jin, Xiaodong Ji, and others jointly invested in a new smart technology company temporarily named Shenzhen Wingsland Artificial Intelligence Smart Technology Company (new company).

The new company will have a registered capital of RMB 100,000, in which Wingsland Technology will invest RMB 51,000 and have a 51% share in the new company.

The next shareholder Jinhui Hu will invest RMB 25,000 in the company and have a 25% stake, while Long Jin will invest RMB 20,000 and claim the remaining 20% share rights. Investor Xiaodong Ji will hold a stake of less than 4% in the company.

The investors and Shenzhen Wingsland Technology signed a partnership agreement on Sept. 5, 2016.

In the statement, the company’s main businesses will include image processing, machine vision, facial recognition and other artificial intelligence calculations. These AI calculations will be applied in drones, automobiles, consumer electronics and other products. Most of the investments will be from Wingsland Technology’s own finances, and will have limited impact on its finances or operations.