Siu Chi shares of subsidiaries and sun company respectively was 1 billion 500 million, 700 million yuan capital increase

Yesterday (21) evening, Siu Chi shares (hereinafter referred to as "the company") announced in December 19, 2017 the company held the fourth meeting of the nineteenth board of directors approved a subsidiary of Jiangxi Siu Chi Semiconductor Co. Ltd. (hereinafter referred to as "Siu Chi semiconductor") and sun company, Jiangxi Siu Chi photoelectric Limited company (hereinafter referred to as "Jiangxi Siu Chi") capital increase and respectively by the Siu Chi shares and a subsidiary of Shenzhen zhaochi energy-saving lighting Limited by Share Ltd guarantees motion.

According to the announcement, by the Nanchang Industrial Asset Management Company Limited (hereinafter referred to as "Nanchang industrial") invested 1 billion 500 million yuan to Siu Chi semiconductor capital, and holds a 48.39% stake in Siu Chi semiconductor. Nanchang industrial investment matters for a period of three years, after the expiry of the period of investment, intended by the company or the company designated party to transfer of shares of the transferee Nanchang Industrial Holdings of Siu Chi semiconductor shares, the transfer price for the amount of capital contribution actually paid during the period of Nanchang industrial, Nanchang industrial to Siu Chi semiconductor investment no longer receive dividends.

The company said that this transaction and guarantee in favor of the company of LED wafer and chip project quickly and smoothly. Siu Chi semiconductor plant construction has been started in 2018 under the plan, equipment installation and commissioning in place and formally put into operation during the first half of the year.

In addition, by the Nanchang industrial investment 700 million yuan in Jiangxi Siu Chi capital, and holds a 46.67% stake in Jiangxi Siu chi. Nanchang industrial investment matters for a period of three years, after the expiry of the period of investment, proposed by the Shenzhen zhaochi energy-saving lighting Limited by Share Ltd (hereinafter referred to as "Siu Chi energy") or its designee to transfer of shares of the transferee Nanchang Industrial Holdings Jiangxi Siu Chi shares, the transfer price for the amount of capital contribution actually paid in Nanchang industrial, industrial Nanchang no longer receive dividends during the Jiangxi Siu Chi investment.

Siu Chi shares said that the capital increase will help the company LED package expansion project quickly and smoothly. The relevant production line expansion project implementation plan, in the second half of 2018 to complete the 1000 packaging production line put into operation.

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