Crystal optoelectronics: wholly owned subsidiary invested $3 million subscription Lumus

In May 17th, Zhejiang crystal photoelectric Polytron Technologies Inc announced that its wholly-owned subsidiary of crystal photoelectric technology (Hongkong) Co., Ltd. intends to own funds of $3 million, for Israel Lumus Company Limited (hereinafter referred to as "Lumus") issued 18 month unsecured convertible bonds (hereinafter referred to as the "convertible bonds").

These foreign investment matters through the fourth session of the board of directors of the company adopted the fifth meeting. The foreign investment in the company's board of directors approval authority, without the general meeting of shareholders. The foreign investment does not constitute a connected transaction, does not involve a major asset restructuring.

Data show that Lumus company is a registered company in Israel, to provide video glasses core components and technical services for customers around the world, now is an important strategic partner of customers and a wholly owned subsidiary of Zhejiang Jing Jing photoelectric co..

Crystal Optoelectronics Technology (Hongkong) Co., Ltd. intends to own funds of $3 million to subscribe for the Lumus issue of convertible bonds in the 18 months, the company is based on the virtual display market prospects. According to the terms of a convertible bond, in bonds held during the Lumus annual interest rate of 6% every year with simple calculation and payment of interest, due to return of principal and accrued interest payments. After maturity, the company may choose to convert the corresponding shares of Lumus, can also choose to update a new round of convertible bonds. The company intends to keep business and capital on the strategic long-term relationship with Lumus, so the above behavior of foreign investment are fixed income and strategic investment behavior, investment risk does not belong to the scope of the provisions of the "standard of listed companies of SME Board of Shenzhen Stock Exchange" of the operational guidelines.

Optical crystal believes that this agreement is a Lumus company and carry out virtual display business strategic subscription agreement, specifically by the crystal photoelectric technology (Hongkong) Co., Ltd. is responsible for the implementation of the project, and according to the concrete bond terms to be executed. The signing of the agreement will not have an impact on the short-term performance of the company, but in the long term, the rapid growth of the company's video glasses business is expected to Lumus by the way of business, and will have a synergistic effect to promote the growth of other virtual reality related products.

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