Neoneon is located in Yangzhou LED epitaxial wafer manufacturing factory, the total investment amounted to $30 million

Zhenminglee October 14th announcement that the company entered into an agreement with the Yangzhou economic and Technological Development Zone, will be set up in Yangzhou, a manufacturer of LED wafer, chip, package and lighting module, the total capital commitments $30 million ($234 million), is expected to put into operation in June 2010.

It is reported that the project will include purchase 30 sets of 31 pieces of MOCVD equipment. The consideration will be paid by the company in cash and cash equivalents to the MOCVD supplier in accordance with the deferred basis. Of which 10 units planned for June 2010 installed for production, another 110 sets of plans to install production in the second half of 2010, the remaining 10 is planned for 2011 installation, after all production, the total production capacity of 30 sets of MOCVD equipment for the monthly 60 thousand pieces of wafer, a period of 10 sets of MOCVD equipment will be monthly production of 20 thousand wafer, estimate the LED terminal products to reduce the cost of 10-15%. This will be a wholly owned Affiliated Companies of Yangzhou economic and Technological Development Zone to purchase each MOCVD equipment to give 10 million yuan subsidy, the other 15% can enjoy preferential corporate income tax rate.