Poly Chan photoelectric intends to sub companies to increase 300 million, enhance the operational capacity

Yesterday (4) evening, poly Chan photoelectric Polytron Technologies Inc (hereinafter referred to as the "poly Chan photoelectric" or the "company") announced that the company intends to poly Chan photoelectric technology to a wholly owned subsidiary of 300 million yuan of its own funds (Suqian) Co., Ltd. (hereinafter referred to as the "Suqian poly Chan") capital. After the completion of the capital, the registered capital of poly Chan in Suqian will be increased from 200 million yuan to RMB 500 million yuan, the company still holds a 100% stake.

According to the announcement, poly Chan Suqian was founded in June 2017, the main business scope covers lighting device, display device, photoelectric device assembly, R & D, production and sales, LED, LED patterned substrate wafer, LED chip R & D, production, sales and technical services; self and agent all kinds of goods and technology import and export industry The application of LED products; system engineering installation, commissioning and maintenance; energy management contract. As of December 31, 2017, Suqian can get 138 million 658 thousand and 700 yuan of total assets, operating income of 76 thousand and 500 yuan, net profit -43.47 million.

Poly bright photoelectric said the main purpose is to supplement the capital liquidity in Suqian poly can meet its production facilities and venues, office facilities and support its working capital needs. To increase the registered capital, will effectively enhance the financing capacity of Suqian poly Chan, capital strength, improve the capital debt structure, and enhance its operation ability, so as to enhance the company's overall competitiveness and profitability. This capital matters will not adversely affect the company's financial and operating conditions, there is no damage to the interests of the company and all the shareholders, in line with the company's development strategy and long-term interests.

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