FSL, a subsidiary of bankruptcy

Yesterday (19) afternoon, FSL released a subsidiary is filed for bankruptcy liquidation announcement that its subsidiary of Suzhou moonteck Li Bao photoelectric company (hereinafter referred to as "Suzhou moonteck") because they can not repay debts, creditors are Suzhou Special Olympics Electronics Co. Ltd. filed for bankruptcy liquidation.

According to reports, another Jiangsu enterprises in Suzhou moonteck unable to repay debts, and assets are insufficient to pay off all the debts on the grounds, apply to the people's Court of Suzhou Industrial Park, Fort Suzhou moonteck request declared bankruptcy. Currently, the people's Court of Suzhou Industrial Park has been filed for review. At present, Suzhou has stopped operating.

Reporters learned that, Suzhou, Thailand and Thailand for FSL holding subsidiary, FSL holds a 50.5% stake. Up to now, FSL's investment in Suzhou amounted to 24 million 360 thousand yuan, has not yet been determined by the judiciary bonds of $14 million 187 thousand and 300, a total of 38 million 547 thousand and 300 yuan. FSL's board of directors responded that, due to the previous year, FSL has been fully prepared for the provision of impairment of assets of the assets, is expected to have no significant impact on the 2016 quarter of Suzhou bankruptcy liquidation.

Statistics show that FSL in March 2014 to consider the acquisition of shares through the acquisition of Suzhou. Suzhou moonteck main development, production and sales of semiconductor lighting apparatus, drive circuit and control system hardware and software system; (production only branch business) design and installation of lighting engineering; engaged in the semiconductor lighting device, apparatus, drive circuit and control system hardware and software system of import and export business.

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