16.5 million yuan! Songsheng Co., Ltd. officially announced a major acquisition

On December 22, Shenzhen Songsheng Electronics Co., Ltd. announced the signing of an equity acquisition agreement with Guangdong Xinshen Technology Co., Ltd. 
The latest announcement shows that the company plans to purchase a total of 55% of the equity of Xinshen Technology held by Jin Haifeng and Jin Haicheng for 16.5 million yuan. The company's actual controllers Wang Zongyou and Tian Nianbin plan to purchase 2.5% of the shares of Xinshen Technology for 750,000 yuan each.
After the transaction is completed, the company holds 55% of the shares of Xinshen Technology, and the company's actual controllers Wang Zongyou and Tian Nianbin hold a total of 5% of the shares of Xinshen Technology. Xinshen Technology becomes the company's holding subsidiary and is included in the company's consolidated statements.

Songsheng shares stated that this acquisition is an important layout of the company's overall strategy around "power + control + system reliability" to further strengthen the company's lighting control and system collaboration capabilities in application scenarios such as smart cities, road and tunnel lighting, and factory and mine lighting. Focus on subdivided areas and enhance control capabilities Information shows that Xinshen Technology is mainly engaged in the research and development, production and sales of intelligent lighting control products, and is a leading high-tech enterprise in lighting control systems in China. Its core R&D team has more than 20 years of experience in the field of lighting industrial control and masters the core technology of lighting communication applications. It has formed a relatively mature product system and is widely used in tunnels, street lights, airports, and many power plants and factory and mine lighting projects across the country, including 4 nuclear power plants. It has a high market share in road lighting, industrial lighting, station lighting, ship lighting and other fields. Especially in the field of highway and tunnel lighting control, Xinshen Technology has accumulated mature technical solutions and project experience, and has high industry recognition in market segments. Power supply and control work together to improve system stability Xinshen Technology products are mainly used in the field of LED lighting. They belong to the same industry as the company's main business, LED driving power supply, and have overlapping features with downstream customers. Through this acquisition, Songsheng will synergistically integrate its advantages in LED driving power and high-reliability power systems with Xinshen Technology's capabilities in intelligent control, system architecture and communication technology. Songsheng Technology stated in the announcement that this acquisition will help integrate the superior resources of the two companies and realize the product innovation of the next generation of intelligent control power supply through the complementation of technologies and products. It will strengthen the company's technical barriers in the field of LED lighting drive and strengthen the company's software control capabilities, making the company a solution provider integrating power supply, intelligent control and communication, and promoting technological changes in the LED lighting industry. The two parties will focus on the matching of power supply and control products, software platform system adaptation and application Collaborate across scenarios to improve the stability and reliability of the overall system in complex operating environments. Oriented to application scenarios and improve system support capabilities It is understood that after the acquisition is completed, the two parties will Focusing on core application scenarios such as smart cities, road and tunnel lighting, and industrial lighting, we continue to promote product collaboration and technology integration, provide customers with overall support capabilities covering power supply, control, and system security, and help lighting projects achieve long-term stable operation. Songsheng shares said that in the future, the company will continue to focus on the core business direction and steadily promote the construction of system capabilities in the fields of smart lighting and industrial lighting through industrial collaboration and technology integration. It is reported that in terms of performance commitments, Jin Haifeng and Jin Haicheng promised that the cumulative net profit of Xinshen Technology in 2026, 2027 and 2028 (net profit refers to the audited net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses) will not be less than 6 million yuan.
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