On the evening of September 21, Storm Group announced that it has entered into a "Capital Increase Agreement" with Dongshan Precision, one of the potential counterparties, regarding the trading target of Shenzhen Storm Wind Commander Technology Co., Ltd. (a subsidiary of the company, hereinafter referred to as Storm Commander).
Dongshan Precision intends to subscribe for 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 assessment of Storm Commander conducted by a qualified securities and futures appraisal firm. Although the formal evaluation is still pending, preliminary estimates suggest that the company's value before the investment could reach approximately 3 billion yuan.
Dongshan Precision expressed confidence in the future development of the Internet TV industry following recent industry restructuring. The signing of this capital increase agreement is expected to strengthen the multi-level collaboration between the company and Storm Commander. This move aligns with Dongshan Precision’s strategic plan to focus on its core business areas, including TV OEM, LCD modules, LED backlighting, and related asset restructuring, aiming to enhance cooperation and leverage each party's strengths.
As part of its long-term strategy, Dongshan Precision sees this investment as a key step toward deepening its involvement in the technology sector and expanding its footprint in the rapidly evolving smart TV market. With the increasing demand for high-quality content and advanced display technologies, the partnership is seen as a significant milestone for both companies.
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