Honglitronic the termination of the acquisition of wisdom blockbuster

Honglitronic August 31st announcement, announced the termination of the acquisition of Shenzhen wisdom Polytron Technologies Inc.

Honglitronic (hereinafter referred to as the "company") on July 18, 2015 issued "on the signing of the investment agreement of intent announcement in cninf" (Bulletin No. 2015-050), the company intends to buy 195 million yuan in cash Shenzhen wisdom Polytron Technologies Inc (hereinafter referred to as "wisdom") shares 18 million 570 thousand shares and 65 million yuan in cash capital increase to 5 million 570 thousand shares Hui vision, the intention to invest if you can successfully complete the implementation, the company will hold 36.58% stake in Hui vision.

During the period, the company strictly in accordance with the relevant provisions of China Commission and the Shenzhen stock exchange and actively promote the work, hired intermediaries due diligence on the Hui vision, after in-depth investigation to understand the situation, the company believes that the actual situation of the Hui vision does not conform to the company investment budget period, at the same time, according to the "agreement" the intention of the investment agreement, such as as of August 31, 2015 the parties are still unable to sign a formal trade agreement, the intention of the agreement will be automatically terminated.

After careful study of the company's management, the company decided to terminate the investment intent.

The termination of the investment intent, will not adversely affect the company's production and operation, etc., will not affect the company's future strategic aspects of the car networking. The company will continue to actively seek investment and cooperation for the car industry networking standard, and gradually establish the main ecological platform LED + Internet + financial vehicle network, enhance the overall competitiveness of the company, to create greater value for investors.

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