BOE transferred 80% equity of Ordos OLED panel project to 3.6 billion

[High-tech LED News] BOE Group recently announced that its holding subsidiary Beijing Jingdong Optoelectronics Technology Co., Ltd. intends to transfer 80% of its equity in Ordos City BOE Energy Investment Co., Ltd. through a transfer agreement, with a transfer price of 3.6 billion yuan. Renminbi.

According to the announcement, BOE transferred 60% of its equity interest in BOE Energy to Beijing Industrial Development Investment Management Co., Ltd., and the transaction price was 2.7 billion yuan; the 20% equity of BOE Energy was transferred to Beijing Yuhua Energy Co., Ltd. The price is 900 million yuan, totaling 3.6 billion yuan.

The 3.6 billion yuan won by this transfer will be fully settled by September 30, 2012. If this part of the funds is included in the profit and loss, it will undoubtedly have a significant positive impact on BOE's performance. The industry believes that BOE Optoelectronics invested 24 million yuan in an instant, that is, exchanged for 3.6 billion yuan, borrowed a lot of money from coal.

It is understood that BOE officially announced at the end of August 2011, through the subsidiary company in Erdos, Inner Mongolia, to build the first domestic 5.5th generation AM-OLED production line with a total investment of 22 billion yuan. The city of Erdos, Inner Mongolia, is allocated 1 billion tons of coal resources for the BOE AM-OLED project.

To this end, BOE Group and BOE Optoelectronics jointly funded the establishment of a holding company in Ordos City - Ordos City, Beijing Oriental Energy Investment Co., Ltd., intends to allocate the coal resources allocated by Erdos City to the name of Ordos City BOE Energy Investment Co., Ltd. Among them, BOE Group invested 6 million yuan and held 20% of the shares. BOE Optoelectronics invested 24 million shares and held 80% of the shares.

At present, Erdos City has only allocated the first phase of 450 million tons of coal resources to BOE, with a unit resource value of 9.85 yuan, and a reference value of 450 million tons of coal resources of 4.433 billion yuan. The market value of 1 billion tons of coal resources is 9.855 billion yuan. A rough calculation of 1 billion tons of coal resources can solve 45% of the investment in this OLED panel line.

According to insiders of the BOE Group, the follow-up of 550 million tons of coal resources is estimated to be implemented by 2012. It is not yet known whether it is allocated to Ordos City BOE Energy Investment Co., Ltd. or Ordos City Shengsheng Energy Investment Co., Ltd.

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