Recently, Lehman Co., Ltd. announced that it has signed the "Profit Prediction Compensation Agreement" and the company 2016 signed by the original shareholders Ke Zhipeng, Hong Maoliang and Sun Jinxiong of the company and Shenzhen Tuoxiang Technology Co., Ltd. (hereinafter referred to as "Tuoxiang Technology" or "Standard Company"). The resolution of the annual general meeting of shareholders, due to the unfulfilled promise of the company's 2016 annual performance, its original shareholders Ke Zhipeng, Hong Maoliang, Sun Jinxiong will be compensated for the performance of the company's shares held by them.
According to the “Profit Prediction Compensation Agreement†signed by the Company with Ke Zhipeng, Hong Maoliang and Sun Jinxiong (hereinafter referred to as the counterparty), the commitment period for the extension of the technology performance is 2015, 2016 and 2017.
The counterparty has jointly promised that the net profit attributable to the shareholders of the parent company after deducting non-recurring gains and losses in 2015, 2016 and 2017 will not be less than RMB 20 million, RMB 25 million and RMB 31.25 million respectively.
Tuoxiang Technology's 2016 financial statements were audited by Daxin Certified Public Accountants. The audited Tuoxiang Technology's 2016 net profit was 23,380,700 yuan, and the net profit after deducting non-recurring gains and losses was 2,297,700 yuan.
The target company's 2016 annual performance commitment of 25 million yuan, after deducting non-recurring gains and losses, the actual profit and performance commitment difference of 2,400,000 yuan, the achievement rate was 91.8%, failed to complete the performance commitment.
The lighting products of Tuo Technology are mainly exported. Due to the economic downturn in Europe in 2016, the purchase volume of European customers has declined. Tuo Technology has gradually shifted its market focus to the United States to actively cultivate and develop the US market.
The company invested a lot of manpower and material resources to develop new products, and carried out marketing and product certification around the US market. However, the product development cycle in the United States was long, and the initial input cost was high, which led to the market and economic effects of the newly developed lighting products lag to the second half. Only to be reflected.
Although the company's orders in the second half of 2016 were sufficient, due to factors such as rising domestic raw material prices and unstable supply, the supply of non-ferrous metals, metal surface treatment and packaging materials was tight, resulting in delayed orders and sales revenues were not as expected.
In October 2015, Lehman shares purchased 100% of the shares of Tuoqi Technology held by three natural person shareholders, including Ke Zhipeng, Hong Maoliang and Sun Jinxiong, through the issuance of shares and payment of cash. The transaction price was 230 million yuan. The main products of Tuoxiang Technology are LED lamps, LED panel lamps, LED floodlights and LED downlights. They are mainly used in indoor commercial lighting. About 80% are for export sales, and about 20% are for domestic sales. The export areas of the products are mainly Europe and the Americas.
According to the 2016 financial report data, Lehman's revenue in 2016 reached 562 million yuan, an increase of 47.72% over the same period of last year. Among them, LED's main business achieved sales revenue of 494 million yuan, an increase of 44.26% over the same period of the previous year. The net profit attributable to ordinary shareholders of listed companies was 30,762,000 yuan, an increase of 54.06% over the same period of the previous year.
According to the shareholder's 2016 net profit of RMB 22.906 million after deducting non-recurring gains and losses, its contribution accounted for 74.64% of Lehman's 2016 net profit. This is also the most profitable subsidiary of Lehman's shareholding holding company.
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