San'an Optoelectronics to acquire Lumileds Holding B.V. stake

San'an Optoelectronics Co., Ltd. proposes to acquire a 74.5% indirect equity stake in Lumileds Holding B.V., a global LED company, by partnering with Inari Amertron Bhd. The total enterprise value for the 100% equity acquisition of Lumileds Subholding B.V. (which holds Lumileds Holding B.V.) is set at $239 million on a "cash-free, debt-free" basis. San'an Optoelectronics and Inari will jointly establish a Hong Kong-based joint venture, contributing $280 million in a 74.5%/25.5% ratio, respectively, to finance the acquisition and provide working capital.

This strategic acquisition aims to enhance San'an Optoelectronics' global market presence, expand its product lines in automotive lighting and special applications, and accelerate its overseas production capacity. Lumileds Holding B.V. operates mature production bases and teams in Singapore and Malaysia, which will facilitate San'an's international expansion and provide access to premium overseas customers and supply chains.

The shareholder meeting, scheduled for December 26, 2025, will also address the election of three independent directors to the company's Eleventh Board of Directors. The proposed candidates are Mr. Lin Zhiyang, Ms. Xiao Hong, and Ms. Li Jinchai. Ms. Xiao Hong is noted as an accounting professional.