Abandoned by Apple, stock price plummeted 27%

Abandoned by Apple, stock price plummeted 27%

Earlier, there have been rumors that the electronic foundry OFILM was kicked out of the supply chain by Apple, which has caused the stock price of OFILM to drop repeatedly. It was previously reported that they were going to sell the South China plant, but the takeover party was not Luxshare Precision, but Wingtech.

Abandoned by Apple, stock price plummeted 27%

On the evening of February 7, Wingtech Technology issued an announcement stating that the company signed the “Acquisition Intention Agreement” with OFILM on February 7, intending to purchase the relevant business assets owned by OFILM and supplying cameras to specific overseas customers in cash. The asset details and transaction amount are determined by both parties in the formal acquisition agreement.

According to the announcement, Wingtech intends to purchase, in cash, the relevant business assets owned by OFILM and the supply of cameras to specific overseas customers, specifically including the 100% equity of Guangzhou Delta Imaging Technology Co., Ltd. held by OFILM, and OFILM and its holdings Operating assets (including fixed assets) and intangible assets owned by the company in China and abroad (except Delta) and the supply of camera-related businesses to specific overseas customers. The specific asset details and transaction amount will be formally acquired by both parties in the transaction Determined in the agreement.

At the same time, OFILM also issued an announcement stating that the company signed an “Acquisition Intention Agreement” with Wingtech Technology in Shanghai on February 7, 2021. The company intends to combine the company’s business assets related to the supply of cameras to specific overseas customers. The transfer (or sale) to Wingtech, both parties confirmed the matter.

OFILM sold mainly the camera supply business of Apple. Wingtech will acquire all the assets of this part, including factories, R&D personnel, technology, etc.

Data show that from January 21 to February 5, OFILM has fallen by 27%. As of the close on February 5, OFILM reported 10.16 yuan, with a total market value of 27.4 billion yuan.