There are very few such opportunities, and once they are there, they must not be missed. This acquisition is a "surprise trip"! - Lin Liliang, executive general manager of Mulinsen.
Mulinsen and IDG, through the establishment of a merger fund, spent 400 million euros, and finally in March 2017, LEDVANCE was included. The deal has now moved to the final step. On May 2, Mulinsen announced the latest version of the major asset restructuring transaction plan. It plans to inject LEDVANCE into the listed company by issuing shares and paying cash at a price of 4 billion yuan.
LEDVANCE has 40 subsidiaries worldwide and has sales channels in 120 countries. In 2015, LEDVANCE achieved operating revenue of 15.37 billion yuan. As the leader of LED packaging enterprises in China, Mulinsen achieved a revenue of 4.311 billion yuan in LED packaging business in the last fiscal year, ranking the leading position in China's LED packaging industry.
After the completion of the acquisition of LEDVANCE, Mulinsen will rapidly become bigger and stronger in the LED lighting application business, and will become the world's top three LED lighting companies.
LEDVANCE products are mainly used in traditional light source business (including thermoluminescent lamps, integrated compact fluorescent lamps, low-pressure gas discharge lamps, high-pressure gas discharge lamps, etc.), LED light sources, OTC lamps and smart home electronics. At present, there are 15 production bases in operation around the world, including 7 in Europe, 2 in Asia Pacific, and 6 in the Americas, mainly for the production capacity of traditional light source business.
In fiscal year 2014 and FY2015, the sales of LEDVANCE lighting products reached 2.162 billion euros and 2.174 billion euros, respectively, which was RMB 1.6 billion and 16.091 billion yuan.
About 50% of LEDVANCE's 2016 revenue comes from the Americas, 40% from Europe, and about 10% from Asia Pacific. At present, the LEDVANCE traditional light source business accounts for about 60%, and the LED light source business accounts for about 25%.
In 2016, Mulinsen came from LED lighting application revenues of more than 1 billion yuan, ranking among the top 10 LED lighting application revenues of listed companies in China.
LEDVANCE's global sales network and marketing team will greatly help Mulinsen's product promotion and brand influence. The High-tech Research Institute LED Research Institute (GGII) expects that in 2017-2018, with the acquisition of the financial transaction by Landexpence, Mulinsen will realize the leading position in China's LED packaging and LED lighting applications.
Mu Linsen released the first half of 2017 performance forecast on April 28. It is estimated that the company's net profit for the first six months of 2017 will be 260 million yuan to 340 million yuan, compared with 153 million yuan in the same period of last year, an increase of 70.36% to 116.23%.
In 2017, the company's goal is to further strengthen LED upstream and downstream resources, continue to arrange high-quality LED chip companies to integrate mergers and acquisitions, and at the same time strengthen the layout of downstream lighting industry development, accelerate the implementation of obligations, Xinyu and other lighting supporting implementation, and actively explore the advantages of Osram's high-end brand. Deploy overseas markets and focus on expanding the North American market.
At the same time, Mulinsen did not stop the development of overseas markets.
On the occasion of the LEDVANCE acquisition, in March 2017, Mulinsen announced the establishment of a joint venture subsidiary with the lighting company Scienceing Group, a leading American lighting company, to enter the American market.
Lighting Science Group has set up factories in North America and Mexico, and has long established a wealth of experience and cooperation with Home Depot and other large retail channels in the United States. However, through cooperation with Mulinsen, Xinhe or Mulinsen is responsible for the lighting product foundry, which helps to regain cost competitiveness and return to the supply chain of large US retailers.
Mulinsen has always been passionate about the LED lighting market. He hopes to find the seaport for his own LED packaging devices by expanding the sales of LED lighting.
Therefore, the company has developed its own brands in the past, including its own Mulinsen lighting brand, and has built many sales teams and channel partners in mainland China. Overseas, the Forest Lighting brand is used to open up emerging markets such as the United States, Southeast Asia, the Middle East and Russia.
As the company continues to strengthen the LED chip production, packaging and application lighting and other industry chain supporting capabilities, the company will become the global LED industry leader.
Focus on, in order to achieve the industry's global leader, the company's chairman and general manager Sun Qinghuan said at the performance briefing recently that the company is deeply immersed in the LED market with hundreds of billions of scale. At present, it mainly considers the expansion of the upstream and downstream industry chain in the LED industry. There are no plans to enter other industries.
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