Dongshan Precision plans to sell large-size display business and related assets of the touch panel business, further optimize the industrial layout, integrate company resources, and improve the company's operational efficiency.
Today, Dongshan Precision announced that it plans to sell large-size display business and touch panel business related assets in the near future. The operating entities of the underlying assets of this transaction are all 100% directly or indirectly controlled subsidiaries of the company. The company will determine the scope and form of the specific sale of assets based on the overall arrangement of the trading plan, and complete the internal integration of the relevant assets before the sale.
Dongshan Precision said that if the asset sales can be successfully completed, it will further increase the proportion of the company's core business of circuit boards, and through the effective integration of assets, business and personnel, promote the efficiency of the company's operation and management and reduce the cost level, improve the company. Profitability and asset liquidity enhance the competitiveness of the company's core business through the reconfiguration of resources and assets, which is conducive to the development of the company's core business system, the improvement of profitability and the improvement of asset yield. In line with the company's development strategy focusing on the main business.
Gaogong LED learned that after the listing in 2010, Dongshan Precision has made strategic expansion to the industrial structure in order to seek better development, and added many new types of business. Among them, Dongshan Precision has formed a large-size display business system through continuous investment of its own funds, including large-size backlight modules, large-size complete machines, computer displays and related upstream sheet metal businesses. In February 2014, the company Through the merger and acquisition method, the touch panel business has been added. With the technical strength and sales resources of Mudong Optoelectronics in the field of touch panels, Dongshan Precision has been able to successfully develop and tap customer needs, realizing the rapid growth of the touch panel business. The company contributed a relatively stable performance.
However, after several years of operation, Dongshan Precision has become more and more focused on the rapid development of the circuit board field, and began to shift its focus, gradually forming a business structure centered on the three business areas of printed circuit boards, electronic devices and communication equipment. At the same time, in order to better integrate the company's resources and improve operational efficiency, we began to “clean up†some non-core low-margin businesses.
Last year, Dongshan Precision planned to subscribe for the newly added registered capital of Storm Commander for 400 million yuan, and carried out “decentralization†resettlement for TV OEM business. The company has been working hard, and the large-size display and touch panel business with stable performance, why can't escape the abandoned situation? It is understood that the large-size display business is mainly because it is inconsistent with the strategic direction of the company's LED business, and there are differences in the business model of operating this business and other LED devices. It is relatively independent in terms of equipment selection, process processing and customer management, so ultimately Was stripped out of business. Similarly, the touch panel business has also been “exiled†due to the rapid iteration of industry technology updates and the high demand for fixed asset investment. "The exit of both businesses is to allocate more resources to the core areas and accelerate their growth and development." Dongshan Precision said.
While all kinds of non-core businesses make way for the main business, Dongshan Precision does not forget to “capture†more resources to help its development. In 2016, Dongshan Precision acquired 3.084 billion yuan to successfully acquire 100% equity of MFLX Company and became its indirect wholly-owned subsidiary. In March this year, Dongshan Precision re-issued the asset purchase plan and planned to acquire Multek, a related body of FLEX's PCB manufacturing business, for US$292.5 million. Entering the consumer electronics, automotive and medical sectors.
According to the financial report, Dongshan Precision achieved operating income of 15.39 billion yuan in 2017, an increase of 83.14% over the previous year. Among them, LED and its display device operating income was 3.278 billion yuan, an increase of 30.76% over the previous year; printed circuit board realized operating income of 6.39 billion yuan, an increase of 224.35% over the same period of the previous year. It can be seen that Dongshan Precision has chosen a good development goal after undergoing a process of “first release and then receiveâ€.
At present, Dongshan Precision is getting better in the fields of PCB (rigid board), FPC (flexible board) and small-pitch display package. Dongshan Precision under the “soft and soft†will focus on the core business in the future and usher in a new round of rapid development.
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