Minbao Optoelectronics acquires equity interests in Huinan Kaimin and promotes the construction of LED lighting bases

On July 3, Minbang Optoelectronics issued an announcement announcing that the company had previously adjusted its fundraising projects and used part of the funds for new projects such as the "LED Industrial Lighting and Special Lighting Lamps Production Base Construction Project". To implement this project, the company plans to acquire land use rights through bidding or equity acquisition.

According to the announcement, Huizhou Minbao Optoelectronics Technology Co., Ltd. ("Huizhou Minbao"), a wholly-owned subsidiary of Minbao Optoelectronics, used a raised investment of 66.0259 million yuan to successfully bid for 100% of the equity of Huizhou Huinan Kaimin Technology Co., Ltd. ("Huinan Kaimin") and obtained the corresponding land use rights. Huizhou Civil Explosion has signed a "Property Rights (Equity) Transaction Contract" with Huizhou Huinan Industry and City Development Co., Ltd. (referred to as "Huinan Industry and City").

The subject of the transaction is 100% equity of Huizhou Huinan Kaimin Technology Co., Ltd. held by Huinan Chancheng Company. The real estate rights under the name of the subject company are located at Lot S-8 and 9-C at No. 1 Huitai Road, Huinan High-tech Industrial Park, Hui'ao Avenue, Huizhou City, with a land area of ​​37,177 square meters and a building construction area of ​​866.41 square meters. The transaction price was RMB 66.0259 million.

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Minbang Optoelectronics stated that this transaction will help meet the company's future development planning needs for production and operation sites, and will help promote the construction of the fundraising project "LED Industrial Lighting and Special Lighting Lamps Production Base Construction Project". It is in line with the company's strategic development layout and long-term development goals, and has positive significance for the company's expansion of business scale and improvement of the company's overall competitiveness.

The main business of Civil Explosion Optoelectronics covers two major business segments: commercial lighting and industrial lighting. It also expands into special lighting fields such as plant lighting, emergency lighting, beauty lighting and explosion-proof lighting.

It is reported that Minbang Optoelectronics will be listed on the Shenzhen Stock Exchange on August 4, 2023, and plans to raise 1.1 billion yuan for LED production expansion, construction of headquarters and R&D centers, and supplementary working capital. In October 2024, the company adjusted its fundraising projects and transferred part of the funds to the "LED industrial lighting and special lighting fixtures production base construction project."

In order to promote the above-mentioned projects, in January this year, Civil Explosion Optoelectronics issued an announcement announcing that it planned to use 344 million yuan of raised funds to increase capital of its wholly-owned subsidiary Huizhou Civil Explosion. Of this amount, 20 million yuan will be included in the registered capital of Huizhou Civil Explosives. After the capital increase, its registered capital will increase from 80 million yuan to 100 million yuan. (Compiled by LEDinside)

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