Dehao Runda is married to NVC or affects cooperation with other customers?

For the “flash marriage” of Dehao Runda (002005.SZ) and NVC Lighting (02222.HK), the capital market did not fully understand, but it was questioned. Industry experts analyzed that the marriage of the two can open up the upstream and downstream industry chain of LED lighting, but the key to success is the integration.

Wu Changjiang "takes retreat into progress"


After the announcement of the acquisition of NVC by Dehao Runda, the shares of the two companies fell for two days. There is still concern and concern in the capital market: Can Dehao Runda stabilize the NVC board and dealer system? Why did Wu Changjiang, the major shareholder of NVC, who wants to regain control of the board of directors, suddenly sell shares? There are also suspicions that Wu Changjiang was suspected of insider trading, earning a net profit of 300 million yuan through "high selling" NVC stocks and "low buy" Dehao Runda stock.

Wu Changjiang broke the silence and lamented on Weibo that he was not understood. He said: "Recalling the past year, my mood can't be expressed in words at this moment, I want to cry, I want to cry, I even want to find someone to fight. But the most I want to think about is to go home with my family and find a Turn off your phone in a quiet place and have a good rest for a few days."

Wu Changjiang also said: "After more than ten years of entrepreneurial history, although it is difficult and dangerous, it is still lucky. This evaluation of yourself may be a person who does not follow the rules and does not follow the common sense, but it is definitely a commitment and a heavy burden. Righteous people. If every decision and every step of my strategy can be understood, there may not be NVC today."

After giving up the control of NVC, and then joining the shares to become the second shareholder of Dehao Runda, Wu Changjiang once again did not follow the common sense, and this move was regarded as "retreating." One introduced the power of the Dehao Runda LED industry chain to accelerate the transformation of NVC to the emerging LED lighting; the second was to break the NVC board of directors' "three-point world" and the dispersal of equity.

In fact, it is difficult to say that Wu Changjiang is trying to withdraw funds. His sale of NVC shares will recover 950 million Hong Kong dollars in cash, but the purchase of 130 million shares of DHL Runda will cost 760 million yuan.

Zhang Xiaofei, dean of the High-tech LED Industry Research Institute, believes that the acquisition of NVC by Dehao Runda is a big case of the marriage of LED upstream and traditional lighting. The key to success is to see the two sides working together on the board of directors and management.

Wang Donglei has already passed Yu and Zhu Hai?


Upon completion of the acquisition, Dehao Runda will occupy 20.05% of the shares of NVC and become the largest shareholder of NVC. Moreover, Dehao Runda has a 6.79% stake in NVC’s remaining shareholding rights. If fully subscribed, DHL Runda’s shareholding in NVC will increase to 26.84%, close to Safran Asia and Schneider Electric. 27.69% of the sum of the shares held by NVC.

NVC was involved in internal disputes in 2012, and although it has been calmed down, it still needs to be stabilized. Today, Dehao Runda suddenly enters NVC, Safran Asia and Schneider Electric accept it, which will determine whether NVC's board of directors can "peacefully coexist" in the future.

An insider of Dehao Runda told reporters that Wang Donglei, chairman of Dehao Runda, had already met with Saifu Asia partner, current chairman of NVC and Zhu Hai, president of Schneider Electric China.

However, when I answered the reporter's call yesterday, I only responded to this sentence: "I am not convenient to talk." Schneider Electric did not respond. Zhu Hai had previously stressed in an interview with reporters that he was not willing to hold NVC.

The above-mentioned DHL Runda insiders said that Dehao Runda is very likely to further increase the holding of NVC to achieve greater integration with NVC and strengthen actual control, and Wu Changjiang will return to take control of NVC, provided that Wu Changjiang It must be actively cooperated on the premise of Dehao Runda to improve the management and standard operation of the NVC board.

Wu Changjiang will still trade NVC?

The dealer system is another level of running-in. In the resurgence of NVC, the dealer system has become a staunch member of the "Tan Wu". If Dehao Runda presides over the NVC board, can the dealer system be controlled?

Li Guanyu, one of the core distributors of NVC and the chairman of NVC's operation center, told reporters yesterday that NVC's distribution system is in great need of LED lighting products. Cooperation with Dehao Runda can enhance the strength of NVC. "He (referring to Wu Changjiang) is definitely optimistic about the new (LED lighting) market, so there is no stick to the rules." Li Guanyu said.

As for whether or not to worry about leaving Wu Changjiang, Li Guanzhen believes that after the acquisition of NVC by Dehao Runda, it is estimated that the terminal products will still be based on the NVC brand. "Wu always is a trader. He can't bear NVC, just let NVC do it." It doesn't care to be a professional manager.

Running-in is also at the industrial level. Zhang Xiaofei said that the production capacity of LED chips of Dehao Runda is greater than that of NVC. The marriage with NVC may affect the cooperation between DHL Runda and other customers. Although NVC is acquired by Dehao Runda, it is best to maintain a certain degree of openness in the procurement of LED lighting products to ensure product quality.

According to the insiders of Dehao Runda, Dehao Runda has been involved in LED chips, packaging and application products, which can fully meet the foundry tasks of NVC LED lighting products. In addition to the main brand of NVC as the terminal product, Dehao Runda has already reached a cooperation with the German lighting brand AEG, and will soon reach a brand cooperation with the American home appliance giant Whirlpool to complete the global brand layout. “The acquisition of NVC, Dehao Runda opened the key channel to promote the popularization of LED lighting products.”

A NVC production line line told reporters that after Wu Changjiang "returned" to NVC in September this year, NVC has established a new LED factory in Huizhou. And a NVC LED product supplier believes that after the acquisition of NVC by Dehao Runda, it is believed that NVC will still have multiple LED suppliers.

It can be seen that how to cooperate with Dehao Runda and NVC in the LED business has yet to be agreed by both parties.

(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)

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