Qinshang intends to join a number of investment companies set up nearly 3 billion 500 million mergers and acquisitions fund

Dongguan KingSun Au Optronics Co May 15th afternoon announcement, company (hereinafter referred to as "KingSun" or "party") recently with Chengdu unite-effort Cci Capital Ltd (hereinafter referred to as "quantum unite-effort quantum" or "B"), see Cci Capital Ltd (hereinafter referred to as "Hengqin Hengqin see" or C) the principle of equality and mutual benefit, by consensus, common signed a "cooperation agreement", jointly established merger fund the acquisition of Aidi Education Acquisition (Cayman) Limited or the control of the assets of Education (hereinafter referred to as the "Eddie project") cooperation matters.

The buyout fund name is Ningbo Meishan bonded port Rong Xiang equity investment center (limited partnership) (hereinafter referred to as "Rong Xiang investment"), general partner of a limited partnership as quantum Ding Xing; company as the inferior level of capital, subscribed capital size of not more than 800 million yuan; see as a priority by Hengqin who subscribed capital size is not more than 2 billion 700 million yuan; related to the partnership structure eventually signed a partnership agreement shall prevail.

The contents of the agreement, pointed out that the three parties jointly set up the fund mergers and acquisitions (Cayman) acquisition of Aidi Education Acquisition Limited or the control of the assets of Education (hereinafter referred to as the "Eddie project") cooperation matters. The total size of the fund is not more than 3 billion 500 million yuan, the deadline is not more than 7 years, the parties to the final signing of the partnership agreement shall prevail.

KingSun said the company had "on the general meeting of the subsidiary company intends to sign the relevant agreement of foreign investment bill", company subsidiary Education Acquisition acquisition of Aidi (Cayman) Limited Education Group (Eddie held NIT Education Group) part through audit related matters. Later, the company further in consultation with the counterparty and related parties, the company intends to use by the Party B and party shall jointly set up a buyout fund, was acquired by the fund.

Qinshang also said, according to the 2016 annual national version of "Private Education Promotion Law" through the audit, provides the legal basis and guidance of the future development of the private education industry in china. The company expects the future education industry will usher in rapid development period, the transaction will further promote the company in the field of private education in the business layout and development, improve the comprehensive competitiveness of the company, a solid foundation for the company to integrate and expand in the field of education lay, help the company continued stable and rapid development.

At the same time, KingSun issued another announcement that recently Qinshang partnership and other partners jointly signed the "Shenzhen Qianhai good water resources management center (limited partnership) withdrawal agreement". According to the previous "Shenzhen KingSun investment in Qianhai good water capital management center (limited partnership) (Ni Chengli) agreed to fund cooperation agreement", Qinshang subscribed 600 million yuan (down payment paid 300 million yuan) as a limited partner, then the actual pay only 20 million yuan first.

In addition, KingSun also issued a statement, Fourth Session of the board of directors for consideration by the fifth meeting of the "on the use of funds raised first permanently add liquidity motion", the company intends to use the funds raised over 178 million yuan the first permanent supplement working capital, the company intends to use the "operation management center construction project the remaining funds raised 19 million 3 thousand and 700 yuan (the specific amount to implement the storage of surplus funds to raise funds account for the actual date), LED outdoor lighting and landscape lighting project" the remaining 169 million 853 thousand and 200 yuan to raise funds (the specific amount to the implementation of the funds raised funds for the actual storage account surplus, "quasi) LED indoor lighting project" the remaining 154 million 265 thousand and 500 yuan to raise funds (the specific amount in order to implement the storage of surplus funds to raise funds account for the actual date) permanently add liquidity. The above total use of 521 million 122 thousand and 400 yuan to raise funds, permanent supplement of liquidity, the company in twelve months to raise funds to permanently supplement liquidity, the cumulative amount of not more than 30% of the total raised funds.

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