The long Party group made a big deal: set up the item company and write off the education subsidiary

Since this year, the long Party group (hereinafter referred to as "the company") moves continuously, the main dynamics are focused on the development of the main business of the company, focusing on the field of lighting and other fields. In recent days, the long side group announced plans to set up a 5000KK package production project and set up a item company to develop intelligent lighting, health lighting and so on. In addition, the company has also announced the cancellation of the full - funded subsidiary of the development of the education business, and it is more clear that the company will focus on the development of the LED lighting field.

To invest in item company, the total investment of the project is not less than 2 billion yuan

According to the announcement of today's early morning, the company and the Nanchang Airport Economic Zone Management Committee (hereinafter referred to as "the airport management committee") signed the "investment cooperation agreement on investment and construction 5000KK package production project investment cooperation" and "investment and construction 5000KK package production project investment cooperation and replenishing agreement", the company intends to use its own package The capital investment of the equipment and the industrial guidance fund of the administrative committee of the administrative committee are to be financed by cash, and the item company (hereinafter referred to as "item company") in Nanchang (hereinafter referred to as "the business registration") is established.

Item company mainly produces direct plug, patch type LED lighting devices, development of intelligent lighting, health lighting, special lighting, military and civilian integration industry, as well as LED lighting energy-saving lamps, solar lighting products, electronic products and so on. The registered capital of item company is not less than 900 million yuan, and the company holds no less than 50% shares in item company. The standing management committee holds not more than 50% shares of item company, and the company occupies the position of controlling shareholders. The total investment of the project is not less than 2 billion yuan, and the first phase investment is 1 billion yuan (of which the investment of equipment is not less than 600 million yuan).

Cancellation of long party education wholly owned subsidiary and the development of main business

On the same day, the group also announced that the company held the twenty-first session of the third session of the board of directors in July 2, 2018 and passed the bill on the cancellation of a wholly owned subsidiary. Based on the consideration of reducing the cost of management, improving operation efficiency and fully integrating resources, the company decided to liquidate and write off the Qianhai Chang Fang Education & Technology Co., Ltd. of Shenzhen city (hereinafter referred to as "the education of the long party").

According to the data, as of December 31, 2017, the total assets of the long party education were 97 million 441 thousand yuan, the net assets were 94 million 10 thousand and 500 yuan, the operating income was 676 thousand and 500 yuan, and the net profit was -447.91 million yuan.

The long Party group said that the remarketing of the education of the long party was considered by the company according to the overall strategic planning. After the cancellation of the education, the company will no longer extend to the education industry, and will promote the development of the LED field and the field of lighting off the net. It is beneficial to optimize the asset structure of the company, reduce the cost of management, improve the efficiency of the management of the company's assets and the overall management efficiency. After the cancellation of the long party education, the scope of the consolidated financial statements of the company will change accordingly. However, it will not have a substantial impact on the consolidated financial statements of the company because the cancellation of the long-term education has not had a significant impact on the overall business development and profit level of the company.

It is also worth mentioning that, with regard to stopping the expansion of the education industry, the Chang Fang Group has already made a move. In April, the company terminated the cooperation framework agreement signed with the International Education Consultancy Limited by Share Ltd of the Beijing Global Arts League, which plans to focus on the main business. (LEDinside Janice collation)

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