Will Semiconductor's acquisition of OmniVision has passed CFIUS review

The organizing committee of the first China International Smart Terminal Industry Development Conference held a press conference in Beijing, announcing that the first China International Smart Terminal Industry Development Conference will be held in Yibin City, Sichuan Province from May 9 to 11, 2019, and relevant preparatory work has been fully launched. The first China International Smart Terminal Industry Development Conference is themed "Integration Era, Cross-border Innovation" and is hosted by the China Institute of Communications and the China Academy of Information and Communications Technology, guided by the Sichuan Provincial People's Government, and supported and co-organized by the China People's Association for Friendship with Foreign Countries, the China Real Estate Association, the Indian Communications and Electronics Association, the Intelligent Manufacturing Branch of the China Construction Industry Association, and the Mobile China Alliance. In the context of Yibin's vigorous development of the smart terminal industry cluster, the first China International Smart Terminal Industry Development Conference has three highlights: first, it is a high-standard international cross-border industry event; second, it has a strong lineup of participating guests and exhibitors, covering the entire industrial chain; third, it has established China's first smart terminal museum to fully display the development achievements of the smart terminal industry.

★Breaking news! Will Semiconductor's acquisition of Beijing OmniVision passed the US CFIUS review

On April 16, Will Semiconductor announced that it had received a notice from the Committee on Foreign Investment in the United States (CFIUS) on April 15, 2019, U.S. time. CFIUS has formally reviewed the company's transaction materials for the acquisition of Beijing OmniVision Technologies Co., Ltd. in this major asset restructuring, and determined that there are no unresolved national security considerations in the above transaction. CFIUS has accordingly notified the company that the CFIUS review involved in this transaction has been completed. The passing of CFIUS's review this time means that the biggest uncertainty in Will Semiconductor's acquisition of Beijing OmniVision has been completely eliminated, and this merger and acquisition case worth 13.5 billion yuan is only one step away from asset delivery.

★ NavInfo's revenue declined in 2018, but its net profit increased by 80.65% year-on-year

On April 16, NavInfo released its annual report, which showed that in 2018, the company achieved total operating revenue of 2.13 billion yuan, a year-on-year decrease of 1.1%; net profit attributable to shareholders of the listed company was 479 million yuan, a year-on-year increase of 80.65%; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was -1.057 billion yuan, a year-on-year decrease of 581.61%. In the subdivided business segments, the operating income of the Internet of Vehicles business was 542 million yuan, a year-on-year increase of 14.26%; the operating income of the chip business was 579 million yuan, a year-on-year increase of 11.92%; the operating income of the advanced driver assistance and autonomous driving business was 52.9281 million yuan, a year-on-year increase of 24.14%. In addition, NavInfo also released its first quarter financial report this year. The report shows that NavInfo's revenue in the first quarter of this year reached 520 million yuan, a year-on-year increase of 15.25%; net profit reached 42 million yuan, a year-on-year decrease of 42.68%.

★Shuobei Technology sold 55% of Keyang Optoelectronics' equity for RMB 149 million to focus on antenna RF business

On April 16, Shuobei announced the transfer of part of the equity of its holding subsidiary. Shuobei signed the "Equity Transfer Framework Agreement" with Dagang Co., Ltd. on March 20, 2019, and the two parties reached a preliminary intention to transfer part of the shares of Keyang Optoelectronics. Shuobei intends to transfer 54.5237% of the equity of Keyang Optoelectronics to Jiangsu Keli Semiconductor Co., Ltd. (hereinafter referred to as "Keli Semiconductor") at a price of RMB 149,050,239, and the original shareholders waive the right of first refusal to the target company's equity. After the completion of this equity transfer, the proportion of the company's equity in Keyang Optoelectronics will change from 71.15% to 16.63%, and Keyang Optoelectronics will no longer be included in the company's consolidated financial statements.

★Hangjin Technology's net profit increased by 97% in 2018, and the number of military orders has initially recovered

On April 16, Hangjin Technology released its 2018 annual report. The company achieved operating income of 3.825 billion yuan, a year-on-year increase of 12.48%; net profit attributable to shareholders of the listed company was 503 million yuan, a year-on-year increase of 96.96%; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 410 million yuan, a year-on-year increase of 72.73%. During the reporting period, the company's core products, a certain type of bus controller and a certain type of chip, entered mass production, and various chip components completed a full-year production of 200,000 units. During the reporting period, the sales of China Electronics Huaxing's power products in the railway market and emerging markets (drones, EVs, robots, etc.) grew rapidly.

★ ST Kangdexin was involved in 16 lawsuits in the past month, with a total amount of 1.03 billion yuan

Recently, Kangdexin and its holding subsidiaries, which have been affected by debt defaults, have frequently been involved in major lawsuits and arbitration cases. On April 16, Kangdexin once again issued a "Notice on New Litigation and Asset Seizure and Freeze (VI)". The notice pointed out that the company issued "Notice on the Implementation of Other Risk Warnings for the Company's Stock Trading", "Notice on the Seizure of Some Properties", "Notice on New Litigation and Asset Seizure and Freeze" and other company-related litigation and asset seizure and freezing situations from January 22 to March 19, 2019. In addition, Kangdexin and its wholly-owned subsidiaries have been newly sued in 16 cases since March 19, 2019, with a total target amount of RMB 1,030.71 million, accounting for 5.72% of the company's net assets (RMB 18.029 billion) in the latest audited period.

Luxshare Precision: The impact of the market environment is normal and companies should always take risk control measures

Luxshare Precision recently released its 2018 full-year performance announcement. As expected, Luxshare Precision's performance in the past year is still impressive. During the reporting period, the company achieved sales revenue of 35.85 billion yuan, an increase of 57.06% over the same period last year; total profit of 3.282 billion yuan, an increase of 60.99% over the same period last year; net profit attributable to the parent company's owners of 2.723 billion yuan, an increase of 61.05% over the same period last year. With the support of a bright report card, the company's stock price rose at the opening on April 16. As of midday close, Luxshare Precision closed at 25.34 yuan per share, with a market value of over 104 billion yuan. As we all know, the consumer electronics market in 2018 was quite severe, and the performance of a number of companies in the industrial chain was also under pressure due to external environmental factors, and Luxshare Precision was no exception.

★TCL Group's asset restructuring transactions have been completed and it has transformed into a technology industry group

On April 16, TCL Group issued an announcement on the completion of the transaction consideration payment by the counterparty of the major asset sale and related transaction. TCL Group received the remaining price of this major asset sale paid by TCL Holdings totaling RMB 233,240 million. On April 2 this year, TCL Holdings had completed the payment of 51% of the transaction consideration, that is, TCL Group has received a total of RMB 242,760 million in this transaction payment from TCL Holdings. After the remaining payment is completed, the asset restructuring transaction that lasted for 4 months is completed. TCL Group will focus on semiconductor display and material businesses, and sell smart terminal businesses such as consumer electronics and home appliances and related supporting businesses.