A wholly-owned subsidiary of Jiawei Co., Ltd. plans to acquire a European L&D company for no more than US$10 million.

　　Headquartered in Europe, L&D mainly operates LED lighting business. The company has been established for nearly 20 years, has a well-established localized team, good industry operation and customer accumulation, and has the authorization of the "Kingpin" lighting brand in North America and China. In the announcement, Jiawei shares forecast that L&D's net profit for 2015-2017 will reach 1.417 million euros, 2.01 million euros and 2.985 million euros, respectively.

　　

　　

Jiawei Co., Ltd. stated that the company has accumulated relatively successful overseas market development experience in the North American market. In recent years, the company has accelerated its pace of entering the domestic market and acquired the well-known domestic commercial lighting brand "Pinshang Lighting". On the other hand, it has actively expanded into the most important European market besides North America. After acquiring L&D, the company will give full play to resource synergy, increase capital and R&D investment, and integrate business and products on the basis of the company's existing stable business. The company will have the global authorization for the "Duracell" lighting brand except China, and realize global sales of the "Duracell" lighting brand and the company's own brand. The company's business in the European market is expected to achieve substantial growth after the acquisition is completed.