180 million yuan! Chau Ming Technology intends to acquire 60% stake in Tsinghua Conley

Yesterday (16) evening, Chau Ming technology announced that, to accelerate the company's expansion in the LED lighting business, improve the company's strategic layout in the city landscape lighting and general lighting field, the company in August 15th with Ceng Guangjun Conley, Sichuan, Tsinghua has signed the "investment framework agreement".

Chau Ming said that the company intends to 182 million 500 thousand yuan transferee 73% stake in Tsinghua Conley, completed business registration after the change, and had had to research Chuandan Target Corp total capital of 50 million yuan, of which 23 million 400 thousand yuan included in the registered capital of the Target Corp, the remaining 26 million 600 thousand yuan of capital reserve into a target company, after the completion of the capital holding company of Target Corp 60% the research of equity, has a 20.40% stake held by the Target Corp, who holds 19.60% stake in the Target Corp sichuan.

According to the announcement, Tsinghua Conley was founded in 2008, is a collection of city landscape lighting planning, design, construction, lighting research and development as one of professional enterprises, is one of the few to have at the same time the Ministry of housing and urban and rural planning class C qualifications, lighting engineering design special qualification, city and road lighting engineering contractor class qualification, and environmental art design qualification, environmental art general contractor qualification, and city planning, lighting design, lighting engineering construction in one of the lighting engineering company.

The company said the proposed acquisition of 60% stake in the company is Tsinghua Conley, in a great measure for the layout of the ecological city landscape lighting field and pan lighting field, through this acquisition, the company involved in the city landscape lighting and lighting culture travel feast at the same time, also with the company's existing road lighting, street lighting and display business wisdom the formation of business cooperation, enhance the comprehensive competitiveness of the company.

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