REFOND joined TCL group Huarui photoelectric equity transferee

Yesterday evening, REFOND (hereinafter referred to as "the company") announced that the company intends to 7 million 894 thousand and 700 yuan transferee Yuxing foreign investment enterprise Limited (hereinafter referred to as "Yuxing enterprise") Holdings (Huizhou) Co., Ltd. Huarui photoelectric (hereinafter referred to as "Huarui photoelectric") 7.9% stake.

Huarui photoelectric was founded in 2013, the registered capital of 100 million yuan, TCL group Limited by Share Ltd (hereinafter referred to as the "TCL group") invested 51%, REFOND invested 25%, Yuxing enterprises invested 24%.

Yuxing enterprise Jingyuan a wholly owned subsidiary of Au Optronics Co, founded in October 2008. This transaction, Huarui photoelectric 24% Yuxing enterprises will be held respectively to 16.1% stake in TCL group, to REFOND 7.9%. The transferee equity matters after registration, the company will hold 32.9% stake in Huarui photoelectric.

According to the announcement, Huarui photoelectric main LED device package, backlight module, LED lighting module and supporting product development, manufacturing, sales. 2016 year and 2017 year, Huarui photoelectricity achieved operating income of 233408297.54 yuan, 246665773.55 yuan, net profit of 14473402.79 yuan, 10751866.26 yuan.

REFOND said the foreign investment equity shares of the company part of equity issues is the company planning based on, make arrangements for the effective allocation of resources. In addition, the transaction will not have a significant impact on the company's current business.

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