Shenzhen Refond Optoelectronics Co.,Ltd. signed an agreement to acquire 51% stake in Zhuhai Winner Auto Lamp Manufacturing Co.,Ltd. from Zhuhai Juzhi Technology Partnership (Limited Partnership) for approximately CNY 100 million.
October 14, 2018
Share
Shenzhen Refond Optoelectronics Co.,Ltd. (SZSE:300241) signed an agreement to acquire 51% stake in Zhuhai Winner Auto Lamp Manufacturing Co.,Ltd. from Zhuhai Juzhi Technology Partnership (Limited Partnership) for approximately CNY 100 million on October 12, 2018. Payment will be done in 2 installments. CNY 51 million will be paid within 5 days since completion of the shareholder agreement, Shenzhen Refond Optoelectronics Co.,Ltd.’s articles of association and any other documents required for the transaction being signed and becoming effective, Shenzhen Refond Optoelectronics Co.,Ltd. convening a board meeting in accordance with internal procedures to review and approve the transaction and other delivery prerequisites agreed in the agreement having been met. A second installment of CNY 51 million will be paid within 5 days since completion of delivery of underlying assets. After the transaction, Zhuhai Juzhi Technology Partnership (Limited Partnership) will no longer hold any equity in Zhuhai Winner Auto Lamp Manufacturing Co.,Ltd. The Board of Directors of Shenzhen Refond Optoelectronics Co.,Ltd. approved the transaction on October 12, 2018.
SHENZHEN REFOND OPTOELECTRONICS CO., LTD. is principally engaged in the research and development of light emitting diode (LED) packaging technologies, as well as the manufacturing and sale of LED packaging products. The Company primarily provides high end backlight LED components and assemblies, LED components and assemblies for lighting, as well as LED components and assemblies for displaying, among others. The Company's products are widely used in the manufacture of liquid crystal display (LCD) televisions, computers and mobile phones, as well as daily use electronic products, urban lighting, indoor lighting, displays, industrial applications and automobiles, among others. The Company distributes its products in domestic and overseas markets, with Pearl River Delta region and Yangtze River Delta region as the main market.
Shenzhen Refond Optoelectronics Co.,Ltd. signed an agreement to acquire 51% stake in Zhuhai Winner Auto Lamp Manufacturing Co.,Ltd. from Zhuhai Juzhi Technology Partnership (Limited Partnership) for approximately CNY 100 million.