Into the Oriental Lighting continuous losses, forced to raise ten million shares to repay debt

Up into the Oriental lighting company announcement, through public offering suggestions, according to the subscription price of HK $0.10 per share offer shares, the issue of not less than 265369901 shares for sale of shares and not more than 278411834 shares offer shares to raise not less than HK $26536000 and not more than approximately HK $27841000 (excluding spending), to be used to repay maturing liabilities.

Notice that the company is a Invest-holding Company, its main business is mainly engaged in LED lighting, as well as single-sided, double-sided and multi sided printed circuit board (PCB) manufacturing and trade.

Notice that, after review, as of 2015 13, 2009, the company consolidated current assets and current liabilities were HK $687574000 and HK $677758000, net current assets of only HK $9816000.

2014 and 2015, the company's annual loss of HK $111872000 and HK $81225000. As mentioned in the earnings report, the board industry is facing global economic slowdown and weak demand pressures. If the company's loss trend continues this year, the board is concerned that the group may be in a position of net current liabilities in 2016.

Between April 24, 2015 and April 15, 2016 due to the suspension of trading in shares and financing transactions (by the company dated April 30, 2015 announced the definition) survey, the company is still trying to regain the confidence of banks, customers and suppliers. Therefore, it is of great importance for the board to consider the company's prudent fiscal policy and the consolidation of the group's cash and assets through public offering.

For more information about LED, please click on LED network or pay attention to WeChat public account (cnledw2013).