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Acquisition of Yishan car lights, transfer of equity shares of the subsidiary company Hongli Zhihui net profit of more than 230 million in the first three quarters
On September 26, Hongli Zhihui (300219) announced its intention to acquire a 56% stake in Yishan Auto Lamp from Zebo Partners using self-raised funds amounting to RMB 21,963 million. Following the transaction, the company will hold a significant equity stake in Yishan Auto Lamp, further strengthening its presence in the automotive lighting sector.
Since its establishment, Hongli Zhihui has focused on white LED packaging for lighting applications and has gradually expanded into downstream segments of the industry chain. In 2007, it founded Guangzhou Foda Signal Equipment Co., Ltd., which specializes in the research and development of commercial vehicle LED automotive lighting products, as well as their production and sales, primarily targeting international markets.
In recent years, the company has leveraged its strengths in the LED industry to expand into the passenger car LED lighting market. The acquisition of part of Yishan Auto Lamp’s equity represents a strategic move to deepen its footprint in this growing sector.
Yishan Auto Lamp, established in 2003, is engaged in the production of vehicle lighting equipment, lamps, and plastic parts. It also provides mold design, electronic fuel injection systems, and related logistics services. Its main clients include major Chinese automakers such as Geely, Changan, Great Wall Motors, Zotye, and Changfeng Cheetah.
Before the transaction, Zebo Partners held 72.59% of Yishan Auto Lamp, making it the controlling shareholder, while Guo Zhiqiang held 27.41% directly and an additional 43.55% through Zebo Partners, totaling 70.96% ownership. After the transfer, Hongli Zhihui now holds 56% of the shares, significantly enhancing its influence over the company.
Hongli Zhihui stated that this investment aims to better utilize its advantages in the LED supply chain, accelerate its layout in the passenger car LED lighting market, and enhance its competitiveness in the domestic automotive lighting sector. The move is expected to support the company’s long-term growth and sustainable development.
In a separate announcement, Hongli Zhihui also disclosed plans to transfer its 4.82% stake in Hezhong Automobile to Fang Yunzhou for RMB 80 million. This decision, made to improve cash flow and profitability, allows the company to focus more on its core business. The subsidiary Hongyi Investment will continue to hold a 7.23% stake in Hezhong Automobile.
Hezhong Automobile operates in the new energy vehicle sector, offering design, development, production, and sales of related components, as well as software and industrial design services.
With increasing competition in the LED industry, Hongli Zhihui has been actively building a dual-business model of "LED + Vehicle Network." This strategy has led to successful resource integration and positive results.
According to the company's quarterly report for the first three quarters of 2017, net profit attributable to shareholders reached between 231.9 million and 276.54 million yuan, reflecting a year-on-year growth of 20% to 40%. In the third quarter alone, net profit ranged from 77.73 million to 88.85 million yuan, up by 40% to 60% compared to the same period last year.
The improved performance was attributed to strong demand in the LED lighting market, steady operational performance, and the inclusion of Quick Easy Network’s results following its acquisition. These developments underscore Hongli Zhihui’s continued momentum and strategic execution.