Power LED flip chip project, Elec-Tech intends to purchase 300 million shares in subsidiaries

Elec-Tech yesterday (10) evening announcement, the proposed acquisition of Bengbu Huachen Energy-saving Technology Service Co. Ltd. in cash (hereinafter referred to as "Bengbu Huachen") held the three Bengbu Yi Semiconductor Co. Ltd. (hereinafter referred to as the "three Bengbu Yi semiconductor) 13.7% equity, equity purchase price of 300 million yuan.

Bengbu Yi three semiconductor is a subsidiary of the operating range of Elec-Tech, LED chip R & D, production, sales and technical advisory services. As of December 21, 2017 three, Bengbu Yi semiconductor registered capital of 1 billion 460 million yuan, China holds 68.493% stake, after the completion of the transaction, China will hold its 82.193% stake.

As of September 30, 2017 three, Bengbu Yi semiconductor total assets of 3 billion 752 million 942 thousand and 800 yuan; 2 billion 252 million 773 thousand and 900 yuan of total liabilities; equity is 1 billion 500 million 168 thousand and 900 yuan.

According to statistics, Bengbu Huachen was founded in 2011, is a record made in the national development and Reform Commission professional qualification contract energy management company, the company in the LED lighting business and cooperation, to provide LED lighting products to the non affiliated parties.

Elec-Tech said, Bengbu three Yi semiconductor for the implementation of the main body of the company equity investment projects LED flip chip project, and the project plays an important role in the future development of the company, the company purchased 13.7% of its shares will further enhance the control of Bengbu three Yi semiconductor, more conducive to the development of LED flip chip project management in line with the long-term, the company's strategic development plan.

LED more information, please click on the LED network or the WeChat public account (cnledw2013).