Victory Precision Hand in Hand with Sun Machinery Plus LCD, OLED Panel Equipment Layout

- Sep 27, 2018-

On September 25th, Shengli Precision (hereinafter referred to as “the company”) issued a notice on the completion of the acquisition of some of the assets of Sun Machinery by the wholly-owned Sun Company.


On March 7, 2018, Victory Precision and the Solar Machinery Manufacturing Co., Ltd. (hereinafter referred to as "Sun Machinery") signed the "Cooperation Letter of Intent". Based on the principle of equality, mutual benefit and complementary advantages, the two parties have negotiated on the “Advancel and Map” registered trademarks owned by Sun Machinery, existing LCD/OLED panel mounting equipment and drawings related to LCD/OLED panel mounting equipment. And the transfer of technical materials such as software reached a cooperation intention.


On April 24, 2018, the company's wholly-owned Sun Company Suzhou Fuqiang Plus Energy Precision Machinery Co., Ltd. (hereinafter referred to as "Fuqiang Energy"), Sun Machinery Manufacturing Co., Ltd. and Rongzhi (hereinafter referred to as "Rongzhi") officially Signed the "Tripartite Transaction Contract", Sun Machinery agreed to transfer the "ADVANCEL and Map" trademark, technical data and crimping equipment to Fuqiang, and the transfer fee totaled 120 million yen.


The transaction does not constitute a connected transaction, nor does it constitute a major asset restructuring as stipulated in the Measures for the Administration of Major Asset Restructuring of Listed Companies. The amount of this transaction need not be submitted to the board of directors and shareholders meeting for consideration.


According to the announcement, Sun Machinery has placed 4 sets of equipment (1 BGA6000GS, 3 BMX6000), and specifications, operating instructions, mechanical drawings, electrical drawings, equipment software, etc. of the limited target models within the time specified in the “Tripartite Trading Contract”. The technical materials were delivered to Fuqiang and Energy, and the transfer registration of the registered trademarks of G908345, Japan No. 4907637, Taiwan No. 01227744 and Korea No. 876133 was completed in the near future.


Fuqiang Plus has paid all the transfer fees and corresponding taxes and trademark transfer fees, etc., totaling approximately 140 million yen, and has received the Transfer Approval Certificate for all transferred trademarks on September 26, 2018. Original documents such as the Trademark Registration Certificate. So far, the company's wholly-owned Sun Company Fuqiang Plus has completed the acquisition of some of Sun's machinery assets. The "ADVANCEL and Map" trademark, technical data and crimping equipment are attributed to Fuqiang.


Shengli Precision said that this time, Fuqiang Plus can acquire the trademark, equipment and technical materials of the "ADVANCEL and Map" of the solar machinery, which will help to rapidly enhance the production and R&D strength of the company's intelligent manufacturing business and accelerate the market expansion in the field of liquid crystal and OLED equipment. Better in-depth service industry leading customers, expand market share, and further implement the company's "winning smart future" development strategy, which is conducive to the company's overall profitability and core competitiveness. After the acquisition, there will be certain uncertainties in the future industry policy, business environment and integrated management, and there may be risks that fail to meet the expected business objectives.