Jiatong Optoelectronics Jiaming Optoelectronics increased its capital and expanded its net profit in the first half of the year by more than 20 million yuan

Zhengtong Electronics (002197) released the semi-annual report. In the first half of the year, the company further strengthened the management team of its subsidiary Jiaming Optoelectronics in the LED business field, and re-planned its business, products and development direction, in lighting lighting and municipal lighting renovation. In the business field, the company strengthened bidding. In the report period, the company won the bidding project in Guizhou, Tibet, Guangdong, Hubei and other places.

As of June 30, 2016, Jiaming Optoelectronics realized operating income of 90.22 million yuan, net profit of 21.3165 million yuan, and net cash flow from operating activities was -38,864,800 yuan. As of the end of the first half of the year, the total amount of receivables was 194 million yuan, an increase of 81.3% from the end of last year.

According to the development plan, Jiaming Optoelectronics plans to increase capital and expand shares and introduce Shenzhen Baoteng Venture Capital Co., Ltd. (hereinafter referred to as “Bao Teng Entrepreneur”) as a new investor. Baoteng Venture will invest 30 million yuan to increase capital of Jiaming Optoelectronics. With a 16.67% stake in Jiaming Optoelectronics, Jiaming Optoelectronics is still included in the scope of the company's consolidated statements.

According to the capital increase and share expansion agreement, the company and the original shareholders agreed that if the company has not been listed on the New Third Board as of December 31, 2017, the investor has the right to request the actual controller of the company to repurchase all or part of the shares held by the company. It also has the right to transfer all or part of the shares held by the company to any third party other than the original shareholder of the company. The shareholders of the company who object to the share repurchase/transfer are deemed to have agreed to transfer the shares under the same conditions. The repurchase price is based on the investment amount. The sum of the 8% of the annual interest rate is calculated.

In the first half of the year, Zhengtong Electronics achieved operating income of 596 million yuan, an increase of 86.10% over the same period of the previous year. The total profit reached 17.56.28 million yuan, an increase of 60.07% over the same period of the previous year. The net profit attributable to the owner of the parent company was 102.060 million yuan. The year-on-year growth was 2.40%. The company's main business is electronic payment, IDC and cloud computing.

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