On August 13, 2015, Liard signed a Merger Agreement with Planar Systems, Inc., stipulating that the company will establish a wholly-owned subsidiary, Liad Oregon, for the purpose of this major asset purchase through the United States in Oregon. Incorporate the company with PLANAR in accordance with the relevant US laws, and in accordance with the terms and conditions stipulated in the signed “Consolidation Agreementâ€, to acquire all the ordinary shares of PLANAR issued by cash payment (at the same time, it is automatically cancelled and no longer exists). On the effective date of the transaction, Liard Oregon was merged into PLANAR and the independent company ceased. PLANAR will continue to be a merged company and become a wholly-owned subsidiary of Liard USA. Upon completion of this merger, PLANAR's common stock will be delisted from NASDAQ and will be deregistered under the US Securities Exchange Act. For this transaction, the purchase price of each common stock of PLANAR is US$6.58, and the total purchase price is expected to be approximately US$156.8 million. The company and Liard USA will raise funds in accordance with the law to pay the entire purchase price in US dollars in cash. Liard was founded in 1995 and rewrote the global landscape of the LED industry. Its LED small-pitch TV has reached the top in the world in terms of technical capabilities, scale and market share. The small-pitch LED display refers to the LED display with LED dot spacing below P2.5, which is greatly improved compared with the traditional LED display resolution. In the LED segment, the GEM and even the entire A-share market, Liard can be regarded as a phenomenon-level company. According to the financial report data, the company's revenue increased nearly five times in the five years from 2009 to 2014, the average annual revenue increased by more than 30%, and the net profit increased by 50% annually. In the first half of this year, the company achieved operating income of 600 million yuan, a year-on-year increase of 45.8%; now the net profit attributable to the parent company is 81 million yuan, an increase of 50.67%. According to the data, Liard has acquired 5 domestic companies including Internet Yida, Jinda Lighting, Lifeng Culture, Jinlixiang and Pineng Optoelectronics. In the international market, the company has signed an agreement to acquire a 100% stake in PLANAR, a NASDAQ listed company in the United States, and a $121 million investment in Indian LED display manufacturer MIC. MicroBT is a technology company which is based on block chain and artificial intelligence. Focusing on integrated circuit chip and products development, production and sales, and provide corresponding system solutions and technical services. We adhere the ideal"ultimate,win-win,integrity"to provide high quality products and service. Now MicroBT has passed the national high-tech enterprise certification.
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