Elec-Tech International invested RMB 320 million in Dalian Subsidiary

Chinese company, Elec-Tech International Co Ltd, which specializes in the development, manufacturing and sales of household appliances, has decided to invest RMB 320 million to a subsidiary Dalian Elec-Tech Photovoltaic Co that mainly engaged in designing, producing and selling LED chips and other LED products.

According to the company, it will complete the capital injection through another subsidiary Elec-Tech (Dalian) Investment, which will hold a 64% stake in Dalian Elec-Tech Photovoltaic upon the completion of the capital injection.
The target firm's registered capital will swell from the current RMB 180 million to RMB 500 million.

It’s reported that Elec-Tech International in January set up a LED joint venture with South Korea-listed LED producer EpiValley and British Virgin Islands-registered investment firm Max Alpha. And Elec-Tech International holds a 75% stake with an investment of US$11.25 million in the joint venture.

Keywords:
China

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