The Great Wall development through the joint venture on the construction of LED industry projects

According to the reporter, the development of the Great Wall and the sixth session of the board meeting held on March 23, 2011, the board of directors at the meeting will be passed on the progress of construction joint venture LED industry projects, at the same time, the board also considered a related party lease matters.

It is reported that in December 27th last year, after the sixth session of the ninth meeting of the board of directors approved, the company and the Epistar JVHolding (BVI) Co., Ltd., guanjing billion (Fujian) Electronic Co. Ltd (BVI), Country Lighting Co., Ltd. signed a "joint venture development (Xiamen) Co., Ltd. lighting joint venture contract". All parties in Fujian to invest in the construction of Xiamen Chinese LED industrialization project. The first phase of the project total investment of $160 million, the first phase of the registered capital of $120 million. At the same time, in view of the market prospects for the development of LED industry in the future, the board of directors of the company decided the total investment intentions of the joint venture company increased to $490 million, the total registered capital increased to $240 million, the company LED industrial project will be based on market conditions to determine the additional investment opportunity.