Dongguan Kingsun Optoelectronic Co.,Ltd completed the acquisition of 10% stake in Shenzhen Yinglun Education Industry Co., Ltd. from Fu Tengxiao and Fu Jun.
January 02, 2017
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Dongguan Kingsun Optoelectronic Co.,Ltd (SZSE:002638) signed an acquisition agreement to acquire 10% stake in Shenzhen Yinglun Education Industry Co., Ltd. from Fu Tengxiao and Fu Jun for CNY 22 million on October 21, 2016. Under the transaction, Dongguan Kingsun Optoelectronic Co.,Ltd will acquire 5% each in Shenzhen Yinglun Education Industry Co. from Fu Tengxiao and Fu Jun for CNY11 million each. In a related transaction, Dongguan Kingsun Optoelectronic Co.,Ltd also signed a capital increase agreement to own 30% stake in Shenzhen Yinglun Education Industry Co. After the capital increase and share transfer, Dongguan Kingsun Optoelectronic Co.,Ltd will own 40% stake in Shenzhen Yinglun Education Industry Co. Shenzhen Yinglun Education Industry Co., Ltd. had total assets of CNY 26.21 million, net assets of CNY 12.1 million, revenue of CNY 16.88 million and net profit of CNY 5.51 million as on December 31, 2015. The transaction was approved by the 25th session of Dongguan Kingsun Optoelectronic Co.,Ltd's 3rd directorate.
Dongguan Kingsun Optoelectronic Co.,Ltd (SZSE:002638) completed the acquisition of 10% stake in Shenzhen Yinglun Education Industry Co., Ltd. from Fu Tengxiao and Fu Jun on January 3, 2017.
Dongguan Kingsun Optoelectronic Co Ltd is a China-based company principally engaged in the research and development, production and sales of smart lighting, outdoor lighting, landscape lighting and outdoor courtyard products. The Company is also engaged in providing semiconductor lighting products and comprehensive solutions. The Company's light emitting diode (LED) lighting products are used in lighting application fields such as smart lighting, road lighting, traffic lighting, commercial lighting, industrial lighting, office lighting, educational lighting and civil lighting, and are used in many LED lighting demonstration projects and LED accent lighting project. The Company mainly conducts its businesses in the domestic market and overseas markets.
Dongguan Kingsun Optoelectronic Co.,Ltd completed the acquisition of 10% stake in Shenzhen Yinglun Education Industry Co., Ltd. from Fu Tengxiao and Fu Jun.
DONGGUAN KINGSUN OPTOELECTRONIC CO.,LTD. 
