Since May 2012, after being forced out of the palace, Wu Changjiang, the founder of NVC Lighting (hereinafter referred to as "NVC"), has been unable to return to the board of directors. Recently, Wu Changjiang began to use Li Dehao Runda (hereinafter referred to as "Dehao") to pave the way for the return of power. With DHL's shareholding in NVC, Wu Changjiang seems to have a new bargaining chip against the two major shareholders of NVC, Safran and Schneider. According to Wu Changjiang's personal plan, if there is no accident, he will return to the board before the Spring Festival. With the intervention of Dehao, the stalemate between Wu Changjiang and Safran and Schneider will be broken. Previously, Wu Changjiang was once forced out of the NVC board by the latter two. NVC had a major strike, a collapse of the supply and marketing system, and Wu Changjiang’s repeated attempts to return to the board of directors failed. On December 5, 2012, Wu Changjiang spent another HK$168 million, holding an increase of 84 million shares. After the change, the shareholding rose again to 22.07%. For this move, the outside world interprets Wu Changjiang as actively paving the way for returning to the board. According to the common concept of NVC and Dehao, using NVC's marketing and channels to sell LED products with Dehao as the core of technology is a perfect solution. Wu Changjiang and Wang Donglei hit it off. "This is a win-win situation. NVC purchases Dehao's products, the upstream end is guaranteed, and Dehao's sales are also expanded with NVC's network, and channel vendors will have better LED products to sell." The Yangtze River further told reporters that the future cooperation between the two products is still the brand of NVC. The cooling system of water-cooled computer can not leave the water pump, water pump is the key to push the liquid flow. Water pump is a heart of one water cooling system, without water pump, the whole will not form a circulation, water pump of the water cooling likes the engine if the car, they both have the output power.displacement.rotate speed and so on,Water pumps correspond to lift, flow speed and power. 12V Dc Mini Water Pump For Pc,Dc Mini Water Pump,12V Dc Mini Water Pump,Pressure Water Pump Dongyuan Syscooling Technology Co., Ltd. , https://www.syscooling.com
On December 26, 2012, the domestic large-scale LED company Dehao invested HK$1.65 billion without any warning to acquire about 20% of NVC Lighting, becoming the largest shareholder of NVC. Almost at the same time, Wu Changjiang also subscribed for the 130 million non-public offering of Dehao. The "mutual exchange of shares" between "Duohao" and Wu Changjiang, "pro-family-friendly", has triggered an infinite speculation.
Today, Wu Changjiang, a gambler, has formed an alliance with Wang Donglei, the chairman of Dehao, who is also gambling. Wu Changjiang has any intention behind the transfer of equity, why Wang Donglei wants to break into NVC, can another force change the pattern of NVC after entering? Optoelectronics and two male alliances LED, in the future is a friend is an enemy, is a blessing is a disaster, there is no fixed number. Will NVC once again lead the wolf into the room and repeat the same mistakes?
It seems that NVC’s equity battle has still seen a lot, and it’s far from a curtain call.
Dehao rushed into the Lord NVC
On December 26, 2012, Dehao released the latest news of the acquisition of NVC, which stated that it is NVC Inc., one of the major shareholders of DHL and NVC. Signing the Share Transfer Agreement with the conditions for entry into force, intends to NVC Inc. Retained 373 million NVC lighting common shares (together with dividend rights), which accounted for 11.81% of the total number of 3.158 billion common shares issued by NVC.
Previously, between December 11 and 21, 2012, Dehao had purchased 260 million shares of NVC in the on-market and off-exchange transactions in Hong Kong, and obtained 8.24% of the shares of NVC. At this point, Dehao held a 20.05% stake in NVC and became the largest shareholder of NVC, while NVC's other two strategic shareholders, 赛富阎焱 and Schneider, held 18.48% and 9.21% respectively.
The above NVC Inc. A wholly-owned subsidiary of Wu Changjiang, that is, Dehao will buy 11.81% of NVC from Wu Changjiang. After the transfer is completed, Wu Changjiang’s shares will be only 6.79%.
It is hard to understand that Wu Changjiang has been keen to increase his shareholding to increase his discourse rights in NVC. He only increased his share of 6.765 million shares between June 11 and 12, 2012. The amount involved was about 12.27 million yuan, and the shareholding volume was raised to 19.19%, regaining the status of the largest shareholder.
This time, selling shares seems to be not based on common sense, why Wu Changjiang now decided to abandon the stocks in his hands? In addition, according to Wu Changjiang's increase, transfer and existing equity projections, at least 3% of the shares have shrunk, is this related to the high-priced transactions inside and outside Dehao?
On the other hand, Wu Changjiang also spent 760 million yuan to subscribe for 130 million Dehao to raise funds for non-public offering of shares, and will become the second largest shareholder of Dehao in the future. On average, Wu Changjiang's purchase price per share was 5.8 yuan, far below the market price of 7 yuan, and immediately attracted media to question the hundreds of millions of benefits between its sale and purchase.
Wu Changjiang recently responded to the Times Weekly reporter with a reply: he never thought about cashing in cash. "The price of the additional is due to the lock-up period of three years and the prudent attitude towards the future market. According to the regulations, Dehao has 10% off the average price of the previous 20 days. NVC is a child I personally created. I will not give up NVC, saying that I am selling stocks is simply nonsense. If I want to cash out, I left early in the first half of last year." Wu Changjiang told reporters that cooperation with Dehao is a strategic decision.
Dehao did not disclose to reporters the specific targets of inside and outside trading. However, for Dehao's "high buy and low sell" doubts, Dong Xiao Deng told the Times Weekly reporter, "We value the brand and network value of NVC very much, which is a very reasonable premium."
A senior executive of Dehao said to the reporter: "It is too cost-effective to buy a company with the largest marketing network. Dehao has got a big deal. If NVC does not have internal disputes in the past year, it is a Dehao will never have such an opportunity to unite with foreign companies."
Wu Changjiang's return path is getting clearer
Just as Wu Changjiang said to reporters: "In the past, I was the founder of the company and a single major shareholder. What can I do? The board still can't go back." So, with the help of Dehao's new strategic partner, it may be Wu. The best choice for the Yangtze River.
On the surface, Wu Changjiang gave up the position of NVC's largest shareholder, but in fact became the second largest shareholder of Dehao, which made it easier for him to control NVC through business cooperation with DHL.
Once the transaction is completed, Wu Changjiang Jia Dehao will hold a 26.84% stake in NVC, which is enough to compete with Safir and Schneider for 27.69%. The long-standing situation of NVC management will be broken.
In fact, NVC's equity has been in a state of dispersion for a long time. After the introduction of a strong capital party, Wu Changjiang's own control over the company was gradually weakened. In recent years, Wu Changjiang and the capital side have made great differences on the business philosophy of the company. "I see opportunities, and the employers often see risks." In the situation that the investor has absolute right to speak with the equity, the contradiction between the founder and the capital party finally broke out in the first half of 2012.
In May 2012, Wu Changjiang first encountered "forced palace." In order to return to NVC, Wu Changjiang and Saifu, Schneider experienced a few months of resistance. Since then, workers, suppliers, and dealers have repeatedly joined forces to “reverseâ€. NVC’s factories in Chongqing Wanzhou and Huizhou, Guangdong, and the Chongqing office of the group have successively experienced strikes. The Group’s 36 exclusive regional distributors have stopped ordering, and many raw material suppliers have also Joined the action. After several toss, in early September 2012, Wu Changjiang was finally appointed as the head of the temporary operation committee. At the end of November, Schneider sent Zhang Kaipeng to “flash†the position of CEO of NVC. But to this day, Wu Changjiang’s wish to return to the board of directors has still not been paid.
Wu Changjiang avoided the limelight between Saifu and Schneider and brought Desheng into NVC. Even if it was not a long-planned bureau, it might be a trick in the equity dispute.
Wu Changjiang told reporters that NVC and Dehao had previous cooperation in procurement, but Dehao did not begin to explore deep cooperation with it until December last year. Wu Changjiang also suggested that Dehao should consider buying stocks of other shareholders, but Dehao said that he most valued Wu Changjiang’s influence on the NVC distribution network and decided to hold shares with him and tighten the interests of both. Tightly tied together.
When talking about returning to the board of directors, Wu Changjiang told reporters: "First, I don't want to leave NVC. Second, the shareholders' meeting may vote for me to go back. In the future, I may also represent DHL Runda to manage NVC. But everything Both will be decided by the board of directors and the general meeting of shareholders." For the timetable for the return, Wu Changjiang revealed that there will be results before the Spring Festival.
Previously, the media broke the news that Dehao and Saifu founding partners and Zhu Hai, president of Schneider China, had good contacts. The above-mentioned Dehao executives told reporters that they had reached consensus on certain levels, including Wu. The Yangtze River's going, and the future cooperation strategy of the two LEDs.
Insiders of NVC told reporters: "There is only a process left in this matter, and there is basically no resistance or suspense."
Dehao Runda has better resource reserves and technical reserves in the upstream field, including extension, chip and technology. In the past three years, nearly 3 billion yuan has been invested in the LED industry. The huge production capacity is in urgent need of opening up the sales market, but the terminal channel is always a short board.
In the view of Yang Shiyu, the director of Dehao brand and marketing department, Dehao acquired NVC and valued the brand and channel of NVC. NVC has 36 exclusive regional distributors, expanding its sales network and deepening its market.
Traditional lighting and LED lighting belong to two branches, and traditional lighting companies are inevitably caught in the difficult situation of the ship turning around. Before NVC also tried to develop LEDs through OEM, but it seems that the effect is not satisfactory. According to the 2012 semi-annual report, NVC’s LED products accounted for only 4% of revenue. When lighting companies rushed to the LEDs, NVC also regarded the LED business as the strategic focus of the group's development.
"At present, most of NVC's dealers and operation centers are driven by Wu Changjiang to form such a channel situation and climate. Dehao will certainly not be stupid enough to let Wu Changjiang leave. Therefore, Wu Changjiang returns and is in charge. LED business is foreseeable." Dehao insiders told reporters.
Zhang Xiaofei, dean of the High-tech Industry Research Institute, believes that NVC and Dehao have joined forces. From the perspective of the industrial chain, the combination of upstream and downstream enterprises is very advantageous. But the test left by the LED market to Wu Changjiang is also quite huge.
In the current lighting market, the rise of the new army, the influx of foreign capital, and the fierce competition, the traditional lighting companies are facing the problem of transformation. Some NVC dealers told reporters that many dealers are now only excited about LEDs, and many of the lights sold by NVC dealers are not produced by NVC. To some extent, NVC’s brand effect has been diluted. When the big waves of LEDs hit, they broke the dream of traditional lighting."
Coupled with the rapid development of e-commerce, in front of Wu Changjiang and Dehao, the first is how to step up the pace of the dealers.
Another grim test is that after the entry of Dehao, it means that there are four forces in NVC. Is it more difficult to break the differences, and will the contradictions be more complicated? How to balance these powers and when the internal consumption stops, determines whether NVC can open a new situation.
"In history, Wu Changjiang introduced new capital [0.881.15%] party or strategic partner always has a honeymoon period. Wang Donglei is also a person full of gambling spirit. Wu Changjiang once praised Wang Donglei to be bigger than his courage. One day Wu Changjiang would be There was a contradiction with Wang Donglei, and the two companies were completely chaotic. That was the same mistakes, and once again led the wolf into the room." Industry insiders commented. 