500 million Australia Shunchang subsidiary capital Rawlinson

M.L.S. today disclosed that the company invested 500 million yuan in Huaian Australia Shunchang Optoelectronic Technology Co., Ltd. of capital, to increase efforts to extend the industrial chain upstream of LED, of which 348 million 800 thousand yuan in registered capital, the rest into the capital reserve.

Statistics show that Huaian Australia Shunchang Photoelectric Technology Co., Ltd. is a subsidiary of Australia Shunchang. Our in the former capital, the registered capital of 600 million yuan in Huaian Australia Shunchang, Australia Shunchang and its subsidiary Jiangsu Australia Shunchang Optoelectronic Technology Co., holding 66.67% and 33.33% respectively. After the completion of the capital increase the registered capital of Huaian, the photo will be changed to 1 billion 297 million 600 thousand yuan, will achieve Huaian Linsen Australia Shunchang 26.88% stake. By then, wood will get 3 seats in the board of directors of the 1 qualifications, and appoint a supervisor of the 1. Huaian LED photoelectric chip production will also be according to the market price to give priority to the supply of rawlinson.

Rawlinson said that after the completion of this investment, the company extends to the LED industry chain through strategic investment, to further improve the layout, the whole industry chain, an important role for the future development of the company. At the same time, has a positive role to enhance the company's brand effect, raw material supply channels to stabilize the company, improve the company income, have a positive impact on enhancing the core competitiveness of the company.

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