M.L.S. intends to purchase LED filament lamp enterprises chaoshidai light source 80% stake

Our March 24th midday announcement, the company intends to pay cash for the purchase of the strict hold chaoshidai light source 80% of the shares, trading price to chaoshidai light source with the assessment of net assets as of December 31, 2015 as the basis, and removed before delivery should repay bank debt, by mutual consultation.

According to the announcement, the main assets of the super era of light and sun (Shaoxing) Green Lighting Co., Ltd. (hereinafter referred to as the new and Shaoxing) of the land use rights, land ownership and construction equipment, etc.. New and Shaoxing mainly engaged in energy-saving lamps, LED lamps and their parts, components, accessories production, sales, for the country's largest manufacturer of LED filament lamp.

According to the company's financial data show that over the years as of December 31, 2015 the total assets of 628 million yuan, net assets of $117 million in fiscal year 2015 operating income of $428 million, net loss of $2 million 67 thousand and 700.

Despite the slight loss of chaoshidai light source, but the MLS for this acquisition is quite optimistic, it said, the foreign investment in line with the company's development strategy, through the acquisition of the target group can technology and market share in the fastest way to get LED filament lamp, has a positive significance to enrich the company's LED lighting product line. At the same time, based on the integration of the industry after the merger, integration benefits, will have a positive effect on the company's future performance.

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