Build LED full industrial chain layout Zhaochi shares subscribed for 11% equity of Zhaochi Lighting

The announcement shows that Zhaochi Lighting was established in March 2017 with a registered capital of RMB 200 million, of which the company subscribed for a capital contribution of RMB 80 million and held 40% of its equity. Guangzhao Future subscribed capital contribution. 1200 million yuan, holding 60% of its equity. In view of the fact that Guangzhao has not yet completed the target equity corresponding to the registered capital on the evening of the 16th, Shenzhen Zhaochi Co., Ltd. (hereinafter referred to as Zhaochi shares or company) announced that the company will cooperate with Shenzhen Guangzhao Future on May 14th. The consulting partnership (limited partnership) (hereinafter referred to as Guangzhao Future) signed an equity transfer agreement and transferred 11% equity of Shenzhen Zhaochi Lighting Co., Ltd. (hereinafter referred to as Zhaochi Lighting) held by Guangzhao Future (hereinafter referred to as Subject equity). The announcement shows that Zhaochi Lighting was established in March 2017 with a registered capital of RMB 200 million, of which the company subscribed for a capital contribution of RMB 80 million and held 40% of its equity. Guangzhao Future subscribed capital contribution. 1200 million yuan, holding 60% of its equity. In view of the fact that Guangzhao has not completed the actual payment obligation of the registered capital corresponding to the target equity, the transaction amount of the equity transfer is RMB 0, and the company is responsible for the capital contribution of the target equity, that is, the self-owned capital is RMB 22 million. Submit 11% equity of Zhaochi Lighting. As of March 31, 2018, Zhaochi Lighting Assets totaled 173,079,900 yuan, total liabilities amounted to 127,871,300 yuan (including total bank loans and total current liabilities), and total receivables amounted to 51,566,800 yuan. The total amount involved in contingent matters (including guarantees, mortgages, litigation and arbitration matters) was RMB 0.00 million, net assets were RMB 42.84 million; 2017 annual operating income was RMB 51.661 million, and operating profit was RMB -36,677,400. The net profit is -36.635 million yuan, the net cash flow from operating activities is -38,366,600 yuan; the operating income from January to March 20,995,541,100 yuan, the operating profit is -8.215 million yuan, net profit -82.15 million yuan, net cash flow from operating activities -13,326,900 yuan. Zhaochi said that the company's foreign investment aims to actively build a LED industry chain with chip + package + application lighting as one, further expand the company's business scope, maximize the synergy effect by integrating the industry's high-quality resources, and enhance the company. The market share of the products is in line with the company's strategic planning and business development needs, which is conducive to the further expansion of the company's downstream market and improve the overall core competitiveness, in line with the interests of all shareholders.

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