YOUNGOR LIAN Backdoor From "Beloved" To "Abandoned Son"?

4 months ago, it was renamed to announce the divestiture of textile business and the hemp industry pformed into new materials.

After the reorganization, the share of YOUNGOR's holdings in hemp industry dropped from 30.08% to 13.78%, and it promised not to combine with other shareholders or to control the hemp industry in any other way.

Tao Wensheng, partner of Peking University Consulting Management Group, commented to the times weekly reporter: "the hemp industry needs large capital, high technical requirements and long incubation time. YOUNGOR's diversified development is bound to not be taken into account.

Previously, the pformation from clothing to other industries was not optimistic, and the shell resources just filled the gap of other industries.

LIAN electronic backdoor

Since the announcement of the restructuring plan in the evening of May 24th, the hemp industry has been pulling down 5 word limit trading boards in May 29th.

The restructuring plan shows that the hemp industry intends to set up an asset price of 615 million yuan, replacing the equivalent amount of LIAN's electronic equity held by all shareholders of LIAN electronics, and placing a 100% stake in LIAN electronics, which is priced at 2 billion 850 million yuan. The difference is partially issued by the company by 7.65 yuan / share, issuing 308 million 496 thousand and 700 shares and paying 125 million 500 thousand yuan in cash.

At the same time, the hemp industry plans to invest in Changji as manager of the Silicon Valley heavenly Hengxin fortune 1 asset management plan, Jiangxi Xinsheng and Jilin investment non-public offering shares, raise funds not more than 200 million yuan, raised funds for LIAN electronics annual output of 60 million high pixel mobile phone lens industrialization project, the issue price of 7.65 yuan / share, not more than 26 million 143 thousand and 800 shares.

The reorganization of LIAN electronics valuation increased significantly.

The plan shows that the net assets of LIAN electronics in the end of 2014 were 760 million yuan, the estimated value was 2 billion 850 million yuan, the estimated value added was 2 billion 80 million yuan, and the appreciation rate was 272.24%.

After the completion of the restructuring, without considering the impact of the matching funds, YOUNGOR's shareholding ratio will be reduced to 13.78%. Chen Wei's shareholding by golden crown international is 14.76%, and Han Shenglong shares 10.96% through Xinsheng of Xinjiang.

According to the agreement of concerted action signed by Chen Wei and Han Shenglong, Chen Wei and Han Shenglong will become the common actual controllers of listed companies.

Jilin investment and Jiangxi Xinsheng actual controllers are Han Shenglong, after raising funds, golden crown international, Jiangxi Xinsheng and Jilin investment share 28.1% of the hemp industry, holding the absolute controlling position.

LIAN electronic backdoor hemp industry, YOUNGOR and the actual controller Li Rucheng through asset replacement and issue shares to buy assets, to achieve the traditional textile industry across the border to the electronics industry.

Statistics show that LIAN Electronics was founded in August 2006, is a research and development, production and sales of optical lens and touch display. Its main products include high-definition wide-angle lens, plane protection lens, mobile phone touch screen, large and medium size touch screen, display module, touch display and single mode module.

Statistics show that the hemp industry was formerly known as Ningbo yak Garment Accessories Co., Ltd., founded in April 1998.

In June 2001, Ningbo Yinzhou Xinhua Investment Co., Ltd. (hereinafter referred to as "Xinhua investment", the actual controller is Li Rucheng), YOUNGOR and other 4 companies and 4 natural persons decided that the company as a whole changed to hemp industry.

In August 2004, the hemp industry was publicly issued 3 million shares and listed on Shenzhen Stock Exchange.

Because of its gross margin of 20.92% and broad market prospects, the Ma business was once viewed by the market.

In 2005, YOUNGOR joined hands with the PLA General Logistics Department to jointly carry out technical research and invested 300 million yuan to carry out projects such as Ma planting and hemp fiber processing and comprehensive utilization of hemp in Xishuangbanna, Yunnan.

In 2007,

and

Together with the establishment of the hemp industry Klc Holdings Ltd (hereinafter referred to as "hemp Holdings", of which YOUNGOR held 40%, yeco Technology Holdings 51%).

In the same year, Li Rucheng adjusted his company's system to inject YOUNGOR into the company.

At that time, YOUNGOR said it would buy 230 million of the 17% stake of yeco technology that was held by Xinhua investment.

If the paction is completed, YOUNGOR will directly and indirectly share 29.84% of the technology company to become a controlling shareholder.

But in 2008,

Production failed to meet the expected target, and YOUNGOR suspended its purchase.

Two years later, Li Rucheng restarted.

In November 2010, YOUNGOR spent 363 million yuan to become a major shareholder, and founded the clothing brand of hemp family in the same year.

Because of the actual controllers of yeco technology and YOUNGOR, they are all Li Rucheng.

However, the performance of yeco technology has been sluggish, relying on government subsidies to make profits.

In 2008, the net profit of Yi Ke was 17 million 310 thousand yuan, but the government subsidy was 12 million 870 thousand yuan in the same year, and the actual profit was only about 4000000 yuan.

In 2009, net profit still plummeted, only 7 million 780 thousand yuan.

Yi Ke technology explained that the government subsidy was 6 million 714 thousand and 500 yuan less.

After years of technical research, the hemp fiber industrialization has been difficult to solve.

In 2011, YOUNGOR hemp company had the capacity to produce 2000 tons of hemp fiber per year. In that year, it would provide 2 million pairs of high performance hemp socks and combat clothing to the army, and the brand of "hemp family" attracted great attention from the market.