Ruifeng through a number of bills: cancellation of subsidiaries, the establishment of a joint venture

Shenzhen Ruifeng photoelectron Limited by Share Ltd (hereinafter referred to as the company) 19 announcement, the company's board of directors in the second session of the third meeting examined and adopted a number of motions. Including the motion on the cancellation of the subsidiary of Dongguan, the motion on the establishment of joint ventures on foreign investment.

According to the announcement, in order to reduce management costs, reduce the level of management, enhance the management ability of the company, the company decided to cancel the Dongguan subsidiary company (Dongguan risy photoelectric Co Ltd), the subsidiary company did not actually carry out business, did not have a substantial impact on the operating performance of the company, the cancellation of the company will not have a significant impact on the company the overall business development and profitability, the Board agreed to cancel the company Dongguan subsidiary company. The cancellation of the company's board of directors approval authority, without the general meeting of shareholders. The cancellation of the subsidiary does not constitute a connected transaction, does not constitute a major asset restructuring of listed companies management approach provides a major asset restructuring.

In addition, the board of directors agreed to the company's foreign investment and the establishment of a joint venture with 9 natural persons (the name of the provisional "Shenzhen Ruifeng Laser Technology Co., Ltd.)". The joint venture's registered capital of 595.238034 yuan, of which the company intends to own funds 116.666634 yuan of money and equipment investment invested 2 million yuan, accounting for 53.2% of the registered capital of the joint venture company, 9 natural total invested 278.571399912 yuan, accounting for 46.8% of the registered capital of the joint venture company.

Aims through the use of new business models and partnerships to expand the company of laser products in the market to set up a joint venture company, will help further strengthen the company's competitive position in the field of light source, it is of positive significance to enhance the profitability of the company.

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