December 28, 2012: Northern Optoelectronics Co., Ltd. announced that it plans to transfer 87.92% of its equity in Yunnan Tianda Photovoltaic Technology Co., Ltd. to its controlling shareholder, Northern Photonics Group Co., Ltd. This move is part of a strategic restructuring aimed at streamlining operations and focusing on core business areas.
According to the announcement, as of September 30, 2012, Yunnan Tianda Photovoltaic Technology had total assets of RMB 902 million, liabilities of RMB 807 million, and net assets of RMB 94.64 million. The company reported operating income of RMB 54.62 million and a net profit of RMB 114 million for the period from January to September 2012. However, when non-recurring gains and losses were excluded, the net profit turned negative at RMB -116 million.
Northern Optoelectronics stated that after completing the audit and evaluation process, the board would review the transaction details, including the final price, payment method, and delivery schedule. The company emphasized that this transaction aligns with its long-term strategy and aims to enhance value for shareholders.
Additionally, Northern Optoelectronics reiterated that China Optoelectronics Group, Hongta Innovation Investment Co., Ltd., and Yunnan Industrial Investment Holding Group Co., Ltd. had committed to a major asset restructuring in 2010. If the company’s net profit fell below RMB 29 million in 2012, the commitment would still be valid. In such a case, the difference between the shareholding ratio before and after the restructuring would be compensated in cash to the photovoltaic shares, and any unmet performance targets would also be addressed accordingly.
This development signals a significant shift in the company’s direction, reflecting its efforts to improve financial performance and streamline its portfolio. Investors are closely watching how this transition unfolds and its potential impact on future growth.Painting Roller Set,Paint Roller Kit Lowes,Self Painting Roller,Best Paint Roller Set Uk
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