Should the transformation needs, NVC intends to sell the domestic lighting products manufacturing business

Yesterday (14) evening, NVC (hereinafter referred to as "the company") announced a non binding cooperation framework agreement, the company has signed with the contractor and Mr. Wang Donglei BDO accordingly, limited to specific signed agreement, the company intends to Elec-Tech and Mr. Wang Donglei directly or indirectly sell domestic lighting products manufacturing business (hereinafter referred to as the underlying asset), including but not limited to the total equity of Huizhou nvc.

The specific scope of the underlying asset will be determined by the parties for further negotiation. The underlying assets of the purchase price will be based on the assessment of Hongkong approved by the company auditors or appraiser of underlying assets. The final purchase price shall be determined by the parties for further negotiation.

According to the announcement, Elec-Tech is mainly engaged in the production and sales of small household appliances and LED products. As of the date of this announcement, about 24.3% Elec-Tech indirect holding company's issued share capital, as the major shareholder of the company.

Mr. Wang Donglei is the chairman of the company executive directors and directors, Elec-Tech indirectly holds approximately 16.57% of the issued shares, is a major shareholder and actual controller elec-tech.

The company to enhance the core competitiveness and achieve sustainable development, in 2018 to develop the transition from manufacturing enterprises to channel enterprise strategy. The potential sale of cooperation framework agreement which can reduce the manufacturing business in the proportion of the group, so in line with the group's development strategy and long-term interests.

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