Chinese LED manufacturers Feilo Acoustic, cnlight and Foshan Lighting announced their latest financial investments and developments.
Feilo Acoustic halted trade on China’s bourse as of Aug. 25, 2016, due to uncertainties in top shareholder INESA’s financial restructure. INESA announced it is readjusting its assets, which could impact the lighting company. Feit Acoustic has applied for suspension on China’s bourse to avoid volatile changes in its share values.
Cnlight subsidiary signs RMB 105 million deal
Cnlight recently announced its wholly owned subsidiary Fushun Optoelectronics Technology and Nanjing Ronyue Electronic Technology (unofficial translation of:南京荣悦电子科技有限公司) signed a charging station procurement agreement totaling RMB 105 million, which is projected to amount to 13.1% of the company’s annual revenue in 2015.
Foshan Lighting purchases subsidiary shares
Foshan Lighting announced the company signed share transfer agreement with Prosperity Lamps & Components Limited to acquire 30% of its Foshan-based lighting subsidiary shares valuing RMB 40.51 million. After the business transaction, Foshan Lighting will hold 100% stake in the Prosperity Lamps & Components Limited subsidiary.
[Editor Note: In an earlier article published on Aug. 25, 2016 (Taipei time) that has now been removed from our site, Feilo Acoustic was erroneously written as Feit Electric. We apologize for this grave mistake.]
