Funded 6 million, Tai Long Lighting proposed joint venture

Yesterday (6) evening, Tai Lung lighting (hereinafter referred to as the "company") issued a notice. In August 6, 2018, the company signed the articles of association of Tai Long (Guangdong) lighting Engineering Co., Ltd. with Liu Yong Liang and Yue Hu, to jointly invest in the establishment of a joint venture Tai Long (Guangdong) lighting Engineering Co., Ltd.

According to the announcement, the registered capital of the joint venture company is RMB 10 million yuan. The company invested RMB 6 million yuan in the form of currency, accounting for 60% of the registered capital; Liu Yongliang invested RMB 3 million yuan in the form of currency, accounting for 30% of the registered capital; in the form of currency, Yue Hu invested RMB 1 million yuan, accounting for 10% of the registered capital.

The main business scope of the joint venture includes LED lighting, LED display, lamp pole, lamps and lanterns, green energy-saving lighting products, electrical technology development, production and sales, undertake and install indoor lighting, commercial complex lighting, landscape lighting, urban road lighting lighting engineering and intelligent building projects.

Tai Lung lighting said that the company invested in the establishment of a joint venture Tai Long (Guangdong) lighting Engineering Co., Ltd. is mainly based on the overall strategic planning of Tai Long Lighting and the needs of its own business development, so as to improve the core competitiveness and brand awareness of Tai Long lighting.

In addition, this investment is invested by the company with its own capital, and will not adversely affect the company's financial and operating conditions, and there will be no damage to the interests of the company and all shareholders. The establishment of the joint venture is of positive significance to the company's financial position, business results and future development.

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