On April 28, Yuanrong Technology (832502) shareholders' meeting reviewed and approved the â€œProposal on Acquiring 14.39% Equity of Qingdao Jiesheng Electric Co., Ltd.â€, and proposed to acquire Qingdao Jufeng Technology Entrepreneurship by means of paying cash price not exceeding RMB 35 million. Investment Co., Ltd. holds 14.39% equity of Qingdao Jiesheng Electric Co., Ltd.
In October last year, in order to expand and improve the company's business layout, the company acquired a total of 85.61% equity of Jiesheng Electric through the issuance of shares and cash, and became the controlling shareholder of Jiesheng Electric.
If the acquisition is completed, Jiesheng Electric will become a 100% wholly-owned subsidiary of Yuanrong Technology.
At the same time of developing the company's main business, the company is behind the field of deep-UV chips. In recent years, the LED industry, especially the traditional white-light market, has fierce competition, product homogeneity has intensified, and product prices have been falling. The once emerging industries have now become one piece. Red Sea.
According to the 2015 financial report data released by Yuanrong Technology, the operating profit of the company in 2014 and 2015 was RMB 49,205,700 and RMB -55,585,900 respectively, a decrease of 213.52% compared with the same period of last year. In 2014 and 2015, the company's net profit was RMB 64,266,700 and RMB -1,549,800, respectively, a decrease of 124.10% over the same period of last year.
In 2014 and 2015, the average unit price of the company's epitaxial wafers was 223.00 yuan/piece, 138.07 yuan/piece, which was 38.08% lower than the same period of last year. The average unit price of the chips was 9.38 yuan/K and 5.00 yuan/K, respectively. It fell by 46.7%. Due to the fierce competition in the market homogenization, the unit price of the product has dropped significantly, which will adversely affect the company's operating profit.
On December 31, 2014 and December 31, 2015, the company's net inventories were RMB 81,776,600 and RMB 10,615,440, respectively, accounting for 24.56% and 26.62% of current current assets, respectively. Due to the sharp drop in market prices in 2015, the company's inventory depreciation reserve balance was 7.323 million yuan and 4,674.18 million yuan, accounting for 8.22% and 30.57% of the inventory balance. The absolute amount and proportion of the decline in price preparations showed an upward trend.
Among them, the bad debt losses in 2014 and 2015 were 2,951,300 yuan and 821,900 yuan respectively, an increase of 178.21% over the same period of last year. The main reason for the increase was the customer finance of the company's customers, Zhongshan Yutai Electronic Technology Co., Ltd. and Sichuan Baishi Photoelectric Technology Co., Ltd. The situation has deteriorated significantly and it is expected that accounts receivable will be difficult to recover.
At the same time, the company's epitaxial wafer and chip production projects have obtained a number of government subsidies. In 2014 and 2015, the amount of government subsidies included in the current profit and loss was RMB 25,402,900 and RMB 3,597,900, accounting for 34.08% and -180.71% of the total profit for the period.
Among them, the government subsidy projects in 2014 and 2015 were 25.502 million yuan and 35.9749 million yuan respectively, an increase of 41.62% over the same period of last year. Considering that the national industrial policy may change, if the policy support of relevant government departments is weakened or the subsidy policy changes in the future, it will affect the company's profitability to some extent.
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