On 28 January 2016, the application filed by HC SemiTek Corporation Ltd. (“HC SemiTek”, stock code:300323) for material asset reorganization (the “Transaction”) was passed and approved at the 10th meeting of the Examination and Approval Committee for M&A and Reorganization of Listed Companies of China Securities Regulatory Commission(“CSRC”).

The whole plan of the Transaction is that HC SemiTek will purchase 100% equity of  Yunnan Crystaland Co., Ltd. (“Crystaland”) held by the dealing party by issue of shares and cash payment. Meanwhile, HC SemiTek will raise supporting funds by non-public offering to four specific investors with the amount of money no more than that of the transaction.

Established in 2005, HC SemiTek was officially approved by CSRC and listed on Shenzhen Stock Exchange on 1 June, 2012. HC SemiTek has focused on ultra-high LED epitaxial products and chips by means of research & development, production and sales since its establishment. Its major products are GaN-Base green and blue LED chips, which after packaging can be widely used in many fields such as the panel, backlight, lighting, automotive decorative lights, traffic lights and urban landscape lighting projects. Crystaland mainly deals with the R&D, production and sales of sapphire crystal, sapphire substrate and other sapphire products, belonging to the sapphire material industry as well as the upper reaches of the LED industry. Through this transaction, HC SemiTek extends from the middle reaches to the upper ones in the industry chain, expands its layout in the LED industry, and enriches its entire business form, laying solid foundation for its completion of strategic plan and evaluation of core competitiveness. Also, its asset quality and profitability ability will be significantly improved, the interests of minority shareholders better ensured.

Grandall Shanghai Office has been acted as the legal counsel for HC SemiTek, with Mr. QIAN Dazhi, Ms. ZHANG Jun and Ms. WANG Zhen as key lawyers offering comprehensive and professional service.