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Business
 9 Months Ended
May 31, 2012
Business  
Business

 

1. Business

 

Business—SemiLEDs Corporation (“SemiLEDs”) was established on January 4, 2005 as a Delaware corporation and is a holding company for various wholly and majority-owned subsidiaries and joint ventures. SemiLEDs and its subsidiaries (collectively, the “Company”) develop, manufacture and sell high performance light emitting diodes (“LEDs”), consisting primarily of LED chips and LED components. A portion of the Company’s business conducted in the three and nine months ended May 31, 2012 consisted of the sale of contract manufactured LED components. The Company’s customers are concentrated in a few select markets, including China, Taiwan, Russia and North America.

 

On December 8, 2010, SemiLEDs completed its initial public offering in the United States and sold 6,038 thousand new common shares. The Company’s common shares are listed on the NASDAQ Global Select Market under the symbol “LEDS.”

 

As of May 31, 2012 and August 31, 2011, SemiLEDs had the following consolidated subsidiaries:

 

 

 

 

 

Jurisdiction of

 

May 31,

 

August 31,

 

Subsidiaries

 

Main Activities

 

Incorporation

 

2012

 

2011

 

SemiLEDs Optoelectronics Co., Ltd. (“Taiwan SemiLEDs”)

 

Research, development, manufacturing, marketing and sale of LED products, consisting primarily of LED chips and LED components

 

Taiwan

 

100

%

100

%

Helios Crew Corporation (“Helios Crew”)

 

Sale of LED components through the Taiwan branch office

 

Delaware

 

100

%

100

%

SemiLEDs International Corporation Ltd. (“Hong Kong SemiLEDs”)

 

Investment holding

 

Hong Kong

 

100

%

100

%

Silicon Base Development, Inc. (“SBDI”)

 

Sale of LED components

 

Taiwan

 

100

%

100

%

Ning Xiang Technology Co., Ltd. (“Ning Xiang”)

 

Research, development, manufacturing, marketing and sale of lighting fixtures and systems

 

Taiwan

 

51

%

51

%

Xuhe Guangdian Co., Ltd. (“Shenzhen SemiLEDs”)

 

Sales and support services

 

China

 

100

%

—

 

HB Lighting Co., Ltd. (“HB Lighting”)

 

Sale of LED components

 

Taiwan

 

100

%

—

 

 

The most significant of these consolidated subsidiaries is Taiwan SemiLEDs located in Hsinchu, Taiwan where substantially all research, development, manufacturing, marketing and sales activities currently take place and where substantially all of the assets are held. In August 2011, the Company, through a wholly owned subsidiary, acquired 51% of the outstanding shares of Ning Xiang. The results of Ning Xiang are included in the Company’s consolidated financial statements from the date of acquisition. In September 2011, the Company, through a wholly owned subsidiary, established Shenzhen SemiLEDs to conduct sales and to provide services to the Company’s customers in China. In March 2012, the Company, through a wholly owned subsidiary, established HB Lighting to conduct sales of LED components in Taiwan.

 

SemiLEDs also has unconsolidated joint venture entities incorporated in China, Malaysia and Taiwan; see Note 4 for further details. The most significant of these partially owned joint ventures entities is Xurui Guangdian Co., Ltd. (“China SemiLEDs”), in Foshan, Guangdong Province, China, which is engaged in the research, development, manufacturing and sale of LED chips in China.