San'an Optoelectronics to acquire Lumileds, shareholders approve deal

Certified Public Accountants issued an audit report on the pro forma combined financial statements for Lumileds Holding B.V. (Lumileds) for the period from January 1, 2024, to June 30, 2025. The report, dated November 27, 2025, confirmed that the pro forma financial statements fairly reflect Lumileds' financial position and operating results. This acquisition aims to enhance San'an Optoelectronics' LED product profitability.

The transaction involves San'an Optoelectronics (74.5%) and Inari Amertron Berhad (25.5%) acquiring Lumileds' 100% equity, primarily its LED business. Lumileds reported a net loss of CNY 22,111.50 in the first half of 2025 and CNY 33,102.27 in 2024, raising concerns about its going concern ability, which management plans to address through restructuring, cost reduction, and diversified financing.

The proposal was approved by shareholders at the Second Extraordinary General Meeting of San'an Optoelectronics, held on December 26, 2025. The resolution, "Deliberation on the Company's Acquisition of 100% Equity in Lumileds Holding B.V. from Overseas Investors and Foreign Investment," was passed with 99.7511% of votes in favor.