The transition to LED is not ideal; the transformation is healthy and unfavorable. Guangdong Ganhua after two failed transformations is currently planning to transform into the military industry.

Guangdong Ganhua announced on the evening of April 25 that the controlling shareholder of the company is planning major issues related to the company, involving the company's acquisition of the controlling power of the power electronics-related products manufacturing enterprises in the military industry, and its products are used in a variety of weapons and equipment. At present, the relevant parties are actively negotiating the specific plan of the transaction, which may involve major asset restructuring.

Guangdong Ganhua, formerly known as Jiangmen Sugarcane Chemical Plant, was founded in 1957 and is the largest sugarcane utilization base in China. In 1992, it was initiated by Jiangmen Sugarcane Chemical Plant, Guangdong Sugar Paper Company, Industrial and Commercial Bank of China Guangdong Trust and Investment Company and Jiangmen International Trust and Investment Company. It was approved by the Guangdong Provincial Enterprise Shareholding System Pilot Joint Review Team and the Guangdong Provincial Economic System Reform Commission. Established and listed on the Shenzhen Stock Exchange in 1994.

Guangdong Ganhua was originally a sugar cane sugar-making enterprise, mainly producing sugar, pulp and paper biochemical products. After many years of listing, the Guangdong Ganhua business has shrunk year by year. In 2007 and 2008, there were losses for two consecutive years. The company had to face the first delisting crisis since its listing. In order to turn losses into profits, Guangdong Ganhua has been actively seeking change over the years.

In March 2011, Delixi Group Co., Ltd. acquired a 19.82% stake in Guangdong Ganhua from the Jiangmen City Asset Management Bureau for 421 million yuan, and later became the shareholder of Guangdong Ganhua Control. In the second half of 2011, Guangdong Ganhua established Deli Optoelectronics and approved the promotion of the LED industry to Delixi Group Co., Ltd. However, the company's development of the LED business has not reversed its fate of sustained losses. The data show that in 2013-2016, Guangdong Ganhua's net profit after deduction was negative, the loss continued to increase, and the operating conditions further deteriorated.

Subsequently, Guangdong Ganhua will once again transform into a major health field. At the end of 2016, Guangdong Ganhua had tried to acquire the project of Zhitong Biological to develop a large health industry. However, in May last year, the company said that the objective conditions such as the macro market environment and industry policies have undergone major changes, and the parties to the transaction failed to How to adjust the major asset restructuring plan to reach an agreement and decide to terminate this restructuring.

After the transformation of LED and big health, Guangdong Ganhua will be involved in the military industry, which will be the company's third transformation. Guangdong Ganhua's latest announcement on major issues of planning and planning shows that the company acquired a controlling stake in the manufacturing of power electronics related products in the military industry. Its products are used in a variety of weapons and equipment, which is different from the announcement of major events in early April. The merger is not clear. It is the former Shenyang Energetic Metal Materials Manufacturing Co., Ltd., which may be another military standard.

From the frequency of recent mergers and acquisitions, Guangdong Ganhua still has obvious transformational determination. Military equipment is one of the core of high-end equipment manufacturing. At present, the international situation is complex and changeable. The rise of China will inevitably lead to the military industry, and it has been released in recent years. The "Made in China 2025" also clearly promoted the development of the military industry, and military industry has entered the 10 years of gold development. The recent trade frictions have also made the country understand the importance of key technologies and core technologies, which will also help the rapid development of high-end military industry.

Guangdong Ganhua's layout has certain forward-looking prospects, but it must have long-term planning and solid foundation for making it bigger and stronger. It is not this or the next merger, but the integration development after merger and acquisition. . This is a fruitful transformation, or it will repeat the LED mistakes and wait for the market to test.

Clad Metals

EXPLOSION WELDING IN FABRICATION PROCESS
1. Preparation of the metal materials of the cover plate and the base plate (including surface purification treatment);
2. Explosives, cartridges, interstitial objects and protective layer preparation;
3.Process installation on sandy soil foundation;
4.Explosive welding using electric detonator detonation method;
5.Inspection of the surface and appearance quality of the composite board;
6.Non-destructive testing NDT (UT, PT);
7.Destructive organization and performance inspection to determine the quality of the combination;
8. Processing and shaping such as leveling, shearing or turning (heat treatment as required);
9.Factory inspection: inspection of appearance, surface and size, marking and coding;

10.Packaging and leaving the factory;


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