Our subsidiary company intends to 190 million yuan capital company wholly-owned sun

Yesterday (14) evening, Mu Linsen (hereinafter referred to as "the company") announced the third session of the twenty-second meeting of the board of directors approved "on the bill" the company's wholly-owned sun capital subsidiary company intends to, a wholly owned subsidiary of Mu Linsen Co. Ltd. (hereinafter referred to as "Hongkong Mu Linsen") to use its own funds to the a wholly owned subsidiary of Mu Linsen (Jiangxi) Electronics Co. Ltd. (hereinafter referred to as "Mu Linsen") of capital, increase the amount of 30 million dollars (about 190 million yuan), after the capital increase the registered capital of Mu Linsen electronics rose from $30 million to $60 million yuan (equivalent to approximately RMB 380 million yuan).

Data show that m.l.s Electronics was founded in August 2017, revenues of 248 million yuan last year, net profit of 32 million yuan, the business scope includes: a liquid crystal display device, light emitting diode and a series of products, materials, production and sales of accessories and the import and export trade; lighting production sales and import and export trade; machinery and equipment, metal products and electronic products (except for automotive electronic devices and energy type battery) production sales and import and export trade; city lighting engineering design and construction services; illumination engineering; energy saving technical services; greening engineering services; energy management contract (prohibited by laws and administrative regulations except; laws and administrative regulations limit the project to obtain a permit for business).

M.L.S. said the capital increase is conducive to expanding m.l.s electronics production scale, improve the capital structure and enhance its operation ability, further helps to promote its business, comply with the company's business development strategy. The funding sources of capital for Hongkong Woodlans m.l.s electronics of its own funds, after the completion of the capital, still for the company's holding company Sun, will not affect the company's scope of consolidated financial statements. After the capital increase, the development will m.l.s electronics is still influenced by the objective factors and market prospect of industry policy changes.

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