Aoyang Shunchang subsidiary Huai'an Optoelectronics received a capital increase of 40.13 million yuan from the government
On the evening of March 23, Aoyang Shunchang announced that its subsidiary Huai'an Optoelectronics plans to increase its capital and add a registered capital of RMB 40.13 million. In order to support the rapid development of the local LED industry and support local enterprises to become bigger and stronger, the local government has approved the newly added registered capital of Huai'an Optoelectronics through Huai'an Qinghe Economic Development Zone Investment Development Co., Ltd. (“Qinghe Developmentâ€) for RMB 30 million. Among them, 40.13 million yuan entered the registered capital, and the remaining 269.87 million yuan entered the capital reserve.
The original shareholders of Huai'an Optoelectronics all gave up the priority subscription rights for newly added registered capital.
After the completion of the capital increase, the registered capital of Huai'an Optoelectronics was RMB 1,337.73 million, of which, the company invested RMB 748,800,000, accounting for 55.98% of the registered capital, and Jiangsu Aoyang Shunchang Optoelectronic Technology Co., Ltd. invested RMB 200 million, accounting for 14.95% of the registered capital. Mu Linsen Co., Ltd. invested 348.80 million yuan, accounting for 26.07% of the registered capital, and Qinghe Development invested 40.13 million yuan, accounting for 3% of the registered capital.
On March 23, 2017, the above parties have signed the “Hua'an Aoyang Shunchang Photoelectric Technology Co., Ltd. Capital Increase Agreementâ€.
Huai'an Optoelectronics Co., Ltd. is the main body of production, sales and R&D of the company's LED chip business. According to the company's plan, Huaian Optoelectronics' production capacity will be greatly improved in 2017, and new capital investment will be large.
This Qinghe development increased the investment of Huai'an Optoelectronics, mainly for the local government to support the rapid development of the local LED industry, to support local enterprises to become bigger and stronger, optimistic about the company's future development. Through this capital increase, Huai'an Optoelectronics' capital structure has been improved, and capital has been further enriched, which is conducive to the further enlargement and strengthening of Huai'an Optoelectronics LED business.
After the completion of this capital increase, Huai'an Optoelectronics is still a controlled subsidiary of the company, and the proportion of shares held by Huaian Optoelectronics has declined.
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