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Both Dehao Runda and NVC Lighting (02222.hk) belong to the company of lighting company Dadong Wang Donglei, and Dehao Runda Holding Company is the largest shareholder of NVC Lighting. Referring to Wang Donglei, people who have long been concerned about the capital market will always think of Wang Donglei and former founder Wu Changjiang. Nowadays, these former equity disputes have passed. The two companies have apparently disclosed the latest progress on the evening of March 25th. The target company is the affiliate company NVC Lighting. The manufacturing business and related enterprises controlled in China are expected to trade between 3 billion and 500 million yuan. It is worth noting that this disclosure is a revised restructuring target, from the distribution industry of equity acquisition LED lighting products to manufacturing companies. Both Dehao Runda and NVC Lighting (02222.hk) belong to the company of lighting company Dadong Wang Donglei, and Dehao Runda Holding Company is the largest shareholder of NVC Lighting. Referring to Wang Donglei, people who have long been concerned about the capital market will always think of Wang Donglei and former founder Wu Changjiang. Today, these former equity disputes have passed, and the two companies have apparently recovered their calm. Wang Donglei, who has one-handed A-share company's first-hand Hong Kong stocks, has controlled two companies. The company's management should be his biggest appeal. This reorganization of Dehao Runda is also the whole process of Party C, which Wang Donglei dominates and personally acts as an independent transaction. According to the announcement, the target assets acquired in this transaction are the manufacturing business and related enterprises of NVC Lighting in China, including but not limited to the entire equity of Huizhou NVC Optoelectronics Technology Co., Ltd. The transaction is planned to be carried out in several steps. Party B Wang Donglei, or a designated third party, first acquires part of the equity of the target company, and then Dehao Runda issues shares to Wang Donglei or a designated third party to issue shares, and simultaneously sells cash to NVC. The form of the purchase of the remaining equity of the target company. After the acquisition was completed, Dehao Runda became the controlling shareholder of the target company. The listing status of NVC's Hong Kong stock companies will also remain independent. Dehao Runda is still planning to issue shares for this transaction. The specific amount is to be determined. However, the announcement revealed that the net assets of the transaction target are about 1.5-300 million yuan. Not only Dehao Runda, NVC Lighting is also expanding its mergers and acquisitions. NVC Lighting announced on March 19 that it has signed an agreement with Hong Kong Luoman International to acquire a 40% stake in Hong Kong Weilan Core Light Trading Co., Ltd. held by the latter. The transaction price is 315 million yuan. As of December 31, 2017, Astraco's profit before taxation was 157 million yuan. NVC Lighting said that in the past two years, due to rising raw materials, components and labor costs, the profit margin of lighting companies has been compressed. The company has developed a strategy for transforming manufacturing companies into channel companies. The acquisition of the target company will help strengthen the company's sales and distribution channels and the ability to cooperate with it. From the performance point of view, NVC lighting performance is significantly better than Dehao Runda. According to the recent annual report released by NVC, the revenue in 2017 was 40.63 yuan, up 6.7% year-on-year. Gross profit reached 1.173 billion yuan, up 14.9% year-on-year. The profit attributable to the parent company was 314 million yuan, up 108.2% year-on-year. However, Dehao Runda had a huge loss in 2017. According to its performance report, in 2017, revenue reached 4.203 billion yuan, a year-on-year increase of 3.79%, but the net profit was -8.96 billion yuan, a significant drop of 2926.29%. Dehao Runda said that it was mainly due to the sharp decline in the company's operating profit.