December 31, 2024 – Sanlipu Announces Upcoming Acquisition of Sumitomo Chemical’s LCD Polarizer Business Assets
Sanlipu has recently unveiled a significant announcement revealing that Hubei Liyou Optoelectronic Technology Co., Ltd., a subsidiary controlled by its affiliated company Hubei Sanlipu Optoelectronic Technology Co., Ltd., is preparing to acquire equity and asset services related to part of the LCD polarizer business held by Sumitomo Chemical and its associated enterprises. Reports indicate that the relevant transaction agreement is expected to be officially signed on December 25, 2024.
The transaction does not constitute a related party transaction nor does it fall under the category of major asset reorganizations as defined in the “Regulations on the Administration of Major Asset Reorganizations of Listed Companies”. The core of the transaction revolves around a portion of Sumitomo Chemical’s LCD polarizer business, specifically encompassing the 100% equity of Asahi Youdian Electronic Material Technology (Wuxi) Co., Ltd., the 100% equity of Sumika Huabei Electronic Material Technology (Beijing) Co., Ltd., along with certain related assets and services.
According to insights from AsiaMB, upon completion of the transaction, the acquired assets will be operated by Liyou Optoelectronic, the controlling subsidiary of Hubei Sanlipu, and will not be consolidated into Sanlipu’s financial statements. On the same day, Sumitomo Chemical also released a related announcement,its journey in China’s LCD polarizer market. Since the establishment of Sumika Beijing in 2009 and Asahi Wuxi in 2016, Sumitomo Chemical had achieved remarkable sales of up to JPY 100 billion in China’s LCD polarizer film market. However, as China’s LCD polarizer film market matures and the environment evolves, Sumitomo Chemical, from the perspective of being the optimal owner, has decided to undertake a business restructuring to ensure the sustained growth of this venture in the future.