Storm Group announced on the evening of September 21 that it has entered into a "Capital Increase Agreement" with Dongshan Precision, one of the potential counterparties, regarding the acquisition target Shenzhen Storm Wind Commander Technology Co., Ltd. (a subsidiary of the company, hereinafter referred to as Storm Commander).
Under the agreement, Dongshan Precision plans to invest in the newly issued capital of Storm Commander at an estimated price of around 400 million yuan. The exact valuation will be determined based on the official assessment conducted by a qualified securities and futures appraiser. While the formal evaluation is still pending, preliminary estimates suggest that Storm Commander's value could reach approximately 3 billion yuan before the investment is finalized.
Dongshan Precision expressed confidence in the future of the Internet TV industry following recent industry restructuring. The company, along with other potential investors, believes in the long-term growth prospects of Storm Commander. Signing the capital increase agreement is expected to strengthen the multi-faceted collaboration between the two companies. This strategic move aligns with Dongshan Precision’s broader plan to focus on its core business areas, such as TV OEM, LCD modules, and LED backlight technology. The investment aims to enhance cooperation, leverage complementary strengths, and drive further development and asset optimization.
As part of this initiative, both parties are looking to build a stronger foundation for future expansion and innovation in the rapidly evolving tech sector. This partnership marks a significant step forward in their shared vision for sustainable growth and market leadership.
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