Focus Lightings Tech Co., Ltd. announced that it expects to receive CNY 500 million in funding from Focus Lightings Tech Co., Ltd.
May 24, 2021
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Focus Lightings Tech (Suqian) Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 500,000,000 on May 25, 2021. The transaction will include participation from existing investor Focus Lightings Tech Co., Ltd. (SZSE:300708). Post completion of the transaction, the investor will continue to hold 96.77% from 95.59% stake in the company, and the Suqian Industrial Development Fund (Limited Partnership) will hold 3.23% from 4.41% stakes in the company. and the registered capital of the company will increase from CNY 1,360,000,000 to CNY 1,860,000,000. The transaction has been approved in the second directorate in the 40th meeting of the second board of directors, 30th meeting of the second board of supervisors, and does not require shareholders approval.
Focus Lightings Tech Co Ltd is a company mainly engaged in research, development, production and sales of light-emitting diode (LED) epitaxial wafers and chips. The Company's primary products are gallium nitride (GaN) based high-brightness blue LED epitaxial wafers and chips, including F1734H white light chips and F1229F white light chips. The products are used in backlight, mid-end lighting and high-end lighting markets.