After Stripping Off Assets Not Related To LED, Lianjian Optoelectronics Transferred Timeshare

- Jun 08, 2020-

Yesterday (4), Lianjian Optoelectronics announced that it plans to transfer 100% of its subsidiary Sichuan Timeshare Advertising Media Co., Ltd. (hereinafter referred to as "Timeshare Media") for 100,000 yuan to reduce operational risks and focus on LED main business .

Lianjian Optoelectronics said that in order to further promote the company's strategic adjustment of "appropriate strategic contraction, focus on main business, and strengthen core capabilities", to achieve business resource integration and redeployment, and to achieve maximum economic benefits, the company plans to sell Timeshare Media 100 to Zhu Xianzhou. % Equity, priced at 100,000 yuan.

According to the announcement, in 2014, Lianjian Optoelectronics issued 38,999,995 shares to He Jilun and other time-sharing media shareholders to purchase 100% of its legally held shares in time-sharing media by issuing shares and paying cash. Timeshare Media completed the registration of industrial and commercial changes at the Chengdu Administration for Industry and Commerce on April 29, 2014.

Timeshare Media is mainly engaged in the design, production, agency and release of various domestic advertisements (excluding balloon advertisements); animation and derivative product design services; literary and artistic creation services.

Lianjian Optoelectronics said that due to factors such as the decline in the market of the advertising industry, the profitability of time-sharing media began to decline, and its operations did not meet expectations and even suffered losses. This transaction is to avoid the subsequent negative impact of related business on the company's normal production and operation, in line with the company's strategic layout of "appropriate strategic contraction, focus on main business, and strengthen core capabilities." By divesting some assets, we will further optimize the shareholding structure, reduce the company's operational risks, improve management efficiency, and concentrate on developing the core LED business. After the completion of this transaction, Timeshare will not be included in the company's consolidated statements and will not have a significant impact on the company's business and financial aspects.

According to LEDinside, Lianjian Optoelectronics has stripped off assets unrelated to the main business of LED many times since 2019, including a total of 64.62% equity of Tibet Bose Cultural Communication Co., Ltd.; a joint-venture subsidiary Hunan Blue Ocean Purchasing Enterprise Planning Co., Ltd. 25.88% Shares; Chengdu Dayu and Xi’an 81% shares each; time-sharing established by the wholly-owned subsidiary Shenzhen Linkage; Fengde Boxin 100% shares, Lima Networks 88.88% shares, Litang Marketing, Ocean Media, China 100% equity of Han Culture and Youtuo Public Relations; 100% equity of Shenma Networks and 100% equity of Guangzhou Shentui. (Organized by LEDinside)