Two additional electric successfully completed, LED is ready to send upstream industry

In April 6, 2012, electric non-public offering of 100 million shares RMB ordinary shares on the Shenzhen stock exchange home, which marks the last years of the two additional work is completed, which is since October 2010 the company for the first time placement, second successful placement. The additional work in the company secretaries office under the guidance of multiple units and departments cooperate, after the board of directors of the company, by the general meeting of shareholders. In October 10, 2011 the company has approved the China Commission "on the Guangdong electric Limited by Share Ltd approved the non-public offering of stock" (Commission license [2011]1616). This marks the issuance of the approval process all through, additional work to raise funds into substantive work through a series of links, in raising funds, capital and equity registration hosting, listing application procedures, finally completed in April 6, 2012 the issuance of all the work. The additional number of shares issued 100 million shares, the issue price of 15.61 yuan / share, raising funds totaling 1 billion 561 million yuan, net funds raised 1 billion 522 million yuan, including 1 billion 218 million yuan for the company LED wafer production line project, another 304 million yuan to supplement the company's liquidity. The issuance of company intends to invest LED wafer production line project, through the implementation of a wholly owned subsidiary of Wuhu Elec-Tech Photoelectric Technology Co. ltd.. Plans a total investment of 4 billion 282 million yuan, 3 billion 982 million yuan investment in fixed assets, working capital 300 million yuan. The company plans to purchase and install 150 sets of MOCVD and its supporting R & D testing and production equipment, and new production, R & D testing and supporting plant of 62560 square meters, for the production of LED epitaxial wafer. Completion of the project, will form an annual output of 1 million 800 thousand pieces of 4 inch LED wafer production capacity. New annual operating income of 7 billion 956 million yuan, after tax profit of $1 billion 587 million 417 thousand, after the successful implementation of the project, the company will gain an advantage in the upper reaches of the LED industry chain, profitability will be significantly improved. Two additional issue of success prompted the company to further enhance the capital strength, asset liability rate, asset structure more reasonable, enhance the ability to resist risks, the company expanded the size of the asset growth space, has laid a solid foundation for the further development of the company. At the same time, the LED wafer production line project and daily operation of the company has been fully funding, strengthen the dominant position in the upstream areas of LED, has a very important strategic significance for the development planning of LED industry company.