Alto electronics invested 22 million 500 thousand and Lixiang WiseNews photoelectric joint ventures

Alto electronic March 2nd evening announcement, the company in March 1, 2017 with the Shenzhen City Cheung WiseNews Photoelectric Technology Co. Ltd., Li Xiang WiseNews shareholders Lu Wei Cao Ping "Shenzhen city and signed with the Shenzhen city Limited by Share Ltd Alto electronic Xiang WiseNews Photoelectric Technology Co. Ltd. jointly funded the establishment of the joint venture company of the joint venture agreement", jointly set up Shenzhen autuo stand Raymond Photoelectric Technology Co. ltd.. The joint venture company registered capital of 37 million 500 thousand yuan, with its own Alto electronic cash 22 million 500 thousand yuan, subscribed 60% stake in the joint venture; Li Xiang WiseNews is owned by its fixed assets and intangible assets (the asset appraisal institution assessment to assess the value of 15 million 32 thousand and 200 yuan) price of 15 million yuan investment subscribed 40% stake in the joint venture.

Registered capital, capital contribution and equity ratio

Alto electronics said the company's main business is one of the LED application products research and development, production, sales and service, the future will further expand the application of LED business, design, development, production capacity and Xiang WiseNews has LED creative display, high visibility in the domestic market. The two sides can learn from each other, in the product, market and technology to form a good complement to each other, the two sides have a greater synergy. The joint venture company's future as smoothly as planned operations, will have a positive impact on the Alto electronic 2017 financial condition and results of operations.

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