News Column

Changfang Light to Buy Kangmingsheng at CNY528mn

June 20, 2014

SHENZHEN, June 20, SinoCast -- Shenzhen Changfang Light Emitting Diode Lighting (SZSE: 300301), suspending trade for three months, intended to spend CNY 528 million buying 60% of Shenzhen Kangmingsheng Industrial through issuing shares and cash.

Kangmingsheng owns three subsidiaries and is mainly engaged in the production and sale of portable mobile LED lighting products.

By March 31, 2014, total and net assets hit CNY 351.5149 million and CNY 99.8476 million. Net profits hit CNY 12.46 million in the first three months of 2014 and CNY 42.5093 million in 2013.

This transaction is expected to be able to strengthen Changfang's LED lighting application business and especially help Changfang to enter the field of mobile lighting application and play its industrial chain advantage and face a risk for extension to downstream.

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Source: Sinocast Computers & Electronics Beat (China)

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