Sunny Optical Technology will inject RMB 500 million into Goertek Optical through its subsidiary, matching an equal contribution from Goertek. The transaction will raise Ningbo OmniLight's stake to about 33.27%, deepening the strategic partnership between the two optical component manufacturers. The deal falls below Hong Kong's notifiable transaction thresholds and is not classified as a connected transaction.
Sunny Optical Technology will inject RMB 500 million into Goertek Optical through its subsidiary Ningbo OmniLight, matching an equal contribution from Goertek to raise its stake to about 33.27%. The transaction deepens the strategic partnership between the two optical component manufacturers and falls below Hong Kong's notifiable transaction thresholds.
Sunny Optical's subsidiary will inject RMB 500 million into Goertek Optical, raising its stake to about 33.27% in the optical components maker.
"The board approved the capital injection to strengthen Sunny Optical's strategic position in the optical components sector," the company said in a filing.
Ningbo OmniLight and Goertek each commit RMB 500 million to subscribe for new registered capital of about RMB 109.76 million. Following completion, Ningbo OmniLight's stake rises from about 31.12% to 33.27%, maintaining its position as the second-largest shareholder of Goertek Optical.
The RMB 1 billion total injection provides growth capital for Goertek Optical. The transaction, when aggregated with prior share swap and subscription deals over the past year, stays below Hong Kong listing thresholds for notifiable transactions and does not constitute a connected transaction, meaning no director abstentions were required. Completion remains subject to conditions precedent, including shareholder approval from Goertek at its general meeting.
Sunny Optical shares fell 11.7% on the day of the announcement, with short selling volume reaching HK$1.04 billion, or 28.6% of total turnover. Goertek shares edged up 0.1%. The most recent analyst rating on Sunny Optical is a Buy with a HK$76.00 price target. The company has a market capitalization of about HK$83.5 billion.
The deepened stake signals Sunny Optical's confidence in Goertek Optical's growth prospects amid consolidation in the Asian optical components sector. Investors will watch for completion of the transaction, which remains subject to Goertek shareholder approval.
This article is for informational purposes only and does not constitute investment advice.
