A 300 million increase in the company's operating capacity

Last night (4), the evening, polyopto Polytron Technologies Inc (hereinafter referred to as "poly can optoelectronic" or "company") issued a announcement, the company is to use its own funds of RMB 300 million yuan to all capital subsidiary of the company Poly (Suqian) Co., Ltd. (hereinafter referred to as "Suqian") to raise capital. After the completion of the increase, the registered capital of Suqian will increase from RMB 200 million yuan to RMB 500 million yuan, and the company still holds 100% of its equity.

According to the announcement, Suqian was founded in June 2017. The main business scope covers the development, assembly, production and sales of lighting devices, displays and optoelectronic devices, the research and development, production, sales and technical services of LED graphical substrates, LED epitaxy chips, LED chips, and the import and export of various kinds of goods and technologies. Business; LED application product system engineering installation, debugging, maintenance; contract energy management. By December 31, 2017, the total assets of the Suqian were 138 million 658 thousand and 700 yuan, the operating income was 76 thousand and 500 yuan, and the net profit was -43.47 million yuan.

The aim of this increase is to supplement the floating capital of Suqian, to meet its site production facilities and office facilities and to support its operating funds. The increase of registered capital will effectively enhance the financing and capital strength of the Suqian, improve the capital liability structure, and enhance its operating capacity, thus enhancing the overall competitiveness and profitability of the company. The issue of this increase will not have a negative impact on the company's financial and business conditions, nor does it harm the interests of the company and all the shareholders. It is in line with the development strategy and long-term interests of the company.

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