Jia Wei shares to write off the controlling shareholder of Fujian Jiawei photoelectric

This morning, Jia Wei shares issued a notice, the company held in August 29, 2018 the third session of the thirtieth meeting of the board of directors adopted the "proposal to cancel the holding subsidiary of the bill." The company intends to cancel the controlling shareholder of Fujian Jiawei photoelectric Co., Ltd. (hereinafter referred to as "Fujian Jiawei"), and Licensing companies management shall handle related liquidation and cancellation issues according to law.

According to the announcement, Fujian Jiawei mainly manages the R & D, production and sales of new LED lighting products. In the first half of 2018, the total assets of Fujian Jiawei amounted to 115 million 816 thousand and 700 yuan, and net profit loss was 33 thousand yuan.

Financial data of Fujian Jiawei 2017 and 2018 half year (source: Jiawei share announcement)

Jia Wei shares said that according to the company's actual operation and follow-up business development plan, in order to optimize the allocation of resources, streamline the organizational structure, reduce management costs and improve operational management efficiency, the company decided to cancel the controlling shareholder of Fujian Jiawei. It helps to reduce management costs and improve management efficiency. After the completion of the cancellation, the scope of the consolidated financial statements will change accordingly. Fujian Jiawei will no longer be incorporated into the scope of the merger, but it will not have a greater impact on the overall business development and profitability of the company, and there will be no damage to the interests of the listed companies and shareholders.

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