Investment of US$20 million to Produce Green Energy-saving LED Products

Changzhou National Hi-Tech District announced that Hong Kong-based Wai Chi Holdings Ltd. started construction of a new facility in Changzhou Trina Photovoltaic Industry Zone in December 2009.

In 2005, Wai Chi Holdings Ltd. established Wai Chi Electronics (Changzhou) Ltd. in Changzhou National High-Tech District with registered capital of US$20 million to engage in the production of pure green, blue, white and other high-end SMD LED and high-power LED products. Wai Chi Electronics (Changzhou) Ltd. features a provincial-level LED Research and Development center, with an annual production capacity of 480 million LED and 12 million backlight products. Moreover, the company's sales revenue reached RMB60 million in 2008.

In order to further expand its production capacity to meet market demand, Wai Chi Holdings Ltd. decided to develop off-site expansion projects, building a new facility in the Trina Photovoltaic Industry Zone in Changzhou with registered capital of US$20 million and a floor space of 85 acres. The first phase of the project covers a construction area of 30,000 square meters. Once completed, the project will be able to produce 2 billion SMD LED and high-power LED products, 20,000 LED lighting products and 80 million LED backlights every year, with annual added sales revenue of RMB200 million.

Yao Zhitu, Chairman of Wai Chi Holdings Ltd., said that the Changzhou National Hi-Tech District was selected for its excellent investment environment. Meanwhile, with the advent of the low-carbon economy, green energy-saving LED products will certainly usher in a bright development prospect.