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Company News >> Optimistic about the car touch screen Lan Yi transmission re-added value-added hands in hand crown technology
On May 23, 2015, Lanyin Transmission released the “Announcement on the Capital Increase and Acquisition of Partial Equity of Shenzhen Taiguan Technology Co., Ltd.,” stating that the company plans to add 38.475 million yuan to Taiwan Crown Science and Technology, and acquires Taiwan Top Technology 5 % of equity; After this capital increase, some natural person shareholders of Taiwan Crown Science and Technology transferred their 5% equity interests in Taiguan Science and Technology to the company for a total consideration of 38.475 million yuan. After the capital increase and equity transfer are completed, the company will hold 10% equity of Taiwan Crown Technology.
On March 4th, 2018, Lanxun Transmission released an announcement on planning for suspension of major events, intending to issue shares and pay for cash to purchase assets; transaction amount range: RMB 70-1000 million. The name of the underlying asset: Shenzhen Taiwan Crown Technology Co., Ltd. controlling share. Trading plan: The company intends to share the target company's shareholders with the agreed terms and prices, including the current main counterparty of the transaction is Zhejiang Shengfang Investment Co., Ltd. (holding 28.60%), Shenzhen Zhongyuan Zhitou Holdings Co., Ltd. (holding shares 14.30%), Pan Shangfeng (10.34%), Zhou Guifeng (4.31%), Luo Saizhi (3.97%), and Xiang Yanzou (1.63%) %), Chen Haijun (shareholding ratio 3.84%), and Zhao Rentong (shareholding ratio 3.75%),
To acquire 100% of the shares of the target company’s shareholders by issuing shares and paying cash.
However, on May 3, 2018, Lanyi Transmission again issued the “Announcement on Terminating the Planning of Major Asset Restructuring and the Resumption of the Shares of the Company”. The content shows that after repeated consultations and communication between the company and the counterparty, the parties believe that it will continue to advance at this stage. The relevant conditions for the major assets reorganization are not mature, and no agreement has been reached on the core terms of the transaction. It is difficult to form concrete and feasible plans in a relatively short period of time to continue to promote this major asset reorganization, in order to safeguard the interests of all shareholders and the company. After careful consideration by the company's major operating management, the company decided to terminate planning for this major asset reorganization.
This time, Lanxuan Drive once again held hands with Taiwan Crown Technology and did not seek full control. It just increased its shareholding in Taiwan Crown Technology and obtained a 10% stake in the Taiwan Crown. The company has subscribed to the new registration of Taiwan Crown Technology. The capital of RMB 4,636,842 paid RMB 38,475,000 to Taiwan Crown Science and Technology with a cash increase of RMB 38,475,000, of which RMB 4,636,842 was recorded in the registered capital of Taiwan Crown Science and Technology, and the remaining amount was recorded in the company’s capital, which was approved by the company. Subscribed for this capital increase to obtain 5% equity of Taiwan Crown Technology. In accordance with the income approach assessment, under the premise of the asset valuation assumption, the estimated total equity of the shareholders of Taiguan Technology was estimated to be 77,679.37 million according to the income approach, with an increase rate of 336.31%.
At the same time, in accordance with the registered capital after the capital increase, the transferors Zhou Guifeng and Huang Changdi respectively hold all their shares of Suanguan Technologies 4.097616% and 0.431328% of their shares (corresponding to the registered capital of the company's registered capital is RMB RMB 3,800,000 and RMB 400,000 were transferred to the company. The company paid cash in consideration of RMB 31,531,155 and RMB 3,319,069, respectively; The percentage of equity (corresponding to RMB 436,842 for the registered capital of Taiwan Science and Technology) was transferred to the company, and the company paid a cash consideration of RMB 3,624,776. The company obtained a total of 5% equity of Taiguan Technology through this transfer, and paid a total of RMB 38,475,000 to the transferor.
Blue Dragonfly said that it was established in 2012. After years of development, it has formed a relatively complete production, supply and marketing system and has strong profitability. Therefore, this evaluation uses the valuation method of the income method as the evaluation conclusion, which is more in line with the characteristics of the evaluation object and effectively serves the evaluation purpose. Therefore, the appraisal of the value of stockholders' equity evaluated by the income method is more appropriate.
Taiwan Crown Technology was established on June 1, 2012, and was listed on the New Third Board in 2016. Since August 7, 2017, the company's shares have ceased listing on the National Small and Medium-sized Enterprise Share Transfer System. Taiwan Crown Technology is a professional manufacturer of precision optoelectronic components. It is mainly engaged in the research, development, production and sales of integrated touch screen and touch display products. Products are mainly used in mobile phones, tablet computers, industrial control terminals, car navigation, etc., have a leading scale of the Senor production line, process technology capabilities reached the international advanced level.
According to information learned by Li Xing from the industry, the main products of the company are the touch screen products and some car touch screen products supported by the international first-line brand tablet computers. The company’s main customers are Quanta, Innolux, Elite Computer, Malata, Carworld, Yifang, Haier, Compal, Acer, Shanghai Huaqin and other well-known brand customers, tablet touch screen into the Amazon supply chain, car touch screen, although it started soon, but also into the Beiqi electric car supply chain. At present, the production capacity of Taiwan Crown Technology is about 500-600K/month, of which the products of the automotive category account for about 10% of the total production capacity.
According to financial data of Taiwan Science and Technology Corporation, revenue of RMB 350 million was realized in 2016, net profit was RMB 14 million; revenue and net profit in 2017 were 464 million yuan and 34.623 million yuan, respectively. In the first quarter, operating income and net profit were respectively 147 million yuan and 627.35 million yuan.
Lanlan Transmission also stated that Taiwan Crown Technology is in the touch screen industry and is a strategic emerging industry supported by the state. As a precision optoelectronic component manufacturer, TC Technologies is engaged in the research, development, production and sales of touch screen and touch display integrated products. The products are mainly used in tablet computers, automotive displays, industrial control terminals and other fields, and have a leading-edge Senor production line. , The technological capability reaches the international advanced level. Taiwan Crown Technologies has accumulated certain technical advantages and production scale in the touch screen and touch display areas. Touching products can be widely used in vehicle-mounted intelligent control display devices and serve in the automotive industry chain for consumption upgrades. The market space in the future is very large.
Lanxun Drive believes that with the rapid development of the automotive industry and touch display technology, automotive products are gradually transforming towards intelligent operation and diversification of functions. The traditional on-vehicle display has been unable to meet the needs of users. The application has found an unprecedented meeting point, and the penetration rate in this area has gradually increased. In this context, the company invested in shares of Taiwan Crown Technology. Through the company's rich experience in service products and its market and customer resource advantages accumulated over the years, it is possible to form strategic cooperation in the automotive intelligent projects and products in the future. It is beneficial for both parties to complement each other in the fields of technology, products, and markets in the passenger vehicle field, and to exert the synergetic effects of the company and Taiwan Crown Technology; it will help the company comply with the development direction of passenger cars and take the development path of integration of hardware and software.
In addition, on the same day, Blue Dragonfly also released the “Announcement on the Establishment of a wholly-owned subsidiary for investment”. The content shows that based on the company’s development strategy, in keeping with the company’s main business, it is also in line with the intelligent development of passenger cars, seizing the market and With regard to development opportunities, the company plans to invest in establishing a wholly-owned subsidiary Chongqing Yuxin Technology Co., Ltd.
Lanxun Drive claims that with the rapid development of the automotive industry and touch display technology, automotive products are gradually transforming toward intelligent operation and diversification of functions. According to the company's development strategy, in addition to the company's main business, in order to comply with the development direction of intelligent passenger cars, and take the integration of hardware and software development, the company seized the market and development opportunities, in addition to actively seek cooperation with the leading companies in the touch screen industry. In addition, it is planned to establish a subsidiary company to develop related businesses: First, to grasp the rapid development opportunities in the automotive touch screen market, to enter the medium-large size display module market; second is to rely on display modules to open up the car touch screen business.
In recent years, the tablet PCs facing the size touch screens and the industrial-vehicle vehicle market have all witnessed significant changes. The end-users in the tablet PC market began to be sharply centralized. While the Apple camp kept its market share, the Android camp's shipments continued to decline slowly. The IPC car market was accelerated due to the advancement of automotive electronics, but the new More than 70% of the increased market space is driven by the Chinese market, which has given a large number of companies that originally accepted the industrial vehicle rear loading and maintenance market with huge market opportunities.
However, this is also the case. Due to the long time for the quality certification of the industrial vehicle mounted pre-installation market, touch screen manufacturers with technical and mass production strengths, it is difficult to have enough time to apply for the various industrial control vehicle-mounted pre-installation market quality system certification through capital. The operation of the market and the integration of resources into enterprises with industrial quality control system installed in front of the industrial vehicle control system has also become an important way for industrial companies to enter the industrial control vehicle market and integrate customer resources. For example, BOE's reorganization of refined electricity was a very clear precedent.

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