Konka intends to list and transfer the shares of Yingrui Optoelectronics

On the morning of (23), Konka Group Co., Ltd. announced that the company intends to transfer 22.935% of the shares held by Yingrui Optoelectronics Co., Ltd. to the state-owned property rights exchange. The listing price is not lower than the evaluation value of the asset appraisal firm. If more than two buyers are willing to participate in the listing of the equity, the transaction price is determined according to the bidding principle.

It is understood that Yingrui Optoelectronics Technology (Shanghai) Co., Ltd. is a shareholding company of Konka Group. Its main business is LED, related industry chain design, R&D and manufacturing. Konka Group Co., Ltd. holds 22.935% of the shares, which is the largest shareholder.

As of December 31, 2016, the book value of 22.935% equity of Yingrui Optoelectronics Co., Ltd. was RMB 58.04 million (audited), and the final transaction price and counterparty were determined based on the results of the bidding. After the listing transfer is completed, the company will no longer hold the equity of Yingrui Optoelectronics Co., Ltd.

Konka Group said that the equity transfer of Yingrui Optoelectronics Co., Ltd. was mainly to optimize asset allocation and recover funds to enhance the liquidity of assets and improve the overall efficiency of the company. This move is in line with the company's development strategy of vigorously developing its main business.


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