e-Kong (00524) announced that it intends to acquire all the issued shares of Quantum (owned by Yingrui Optoelectronics Technology) from Nice Wisdom. Yingrui Optoelectronics is engaged in the design, R&D and manufacturing of LED and related industrial chains. Yanteng will inject capital into Yingrui Optoelectronics until it holds no more than 45% of the shares.
In addition, the company intends to acquire all the issued shares of Lianguan and Arbo International, and the two companies may hold a 42% stake in Konka Lighting in the future. Konka Lighting focuses on commercial lighting, industrial lighting and public lighting products. The two transaction considerations are pending.
Yingrui Optoelectronics is a high-tech company engaged in the design, research and development and manufacturing of LED and related industry chains. As a leading enterprise undertaking the development project of Shanghai's optoelectronic industry, it has the full support of the Shanghai Municipal Government.
In addition, E-KONG entered into a list of non-legally binding terms and plans to acquire a 42% interest in Kangjia Lighting from an independent third party vendor, depending on the execution of the final agreement, and the company paid a refundable deposit of RMB 12.5 million. Konka Lighting focuses on commercial lighting, industrial lighting and public lighting products, and is suitable for project-based and wholesaler-based customers. At present, Konka Lighting's business is spread across the EU, North America, South America, Australia and other regions through its branded OEM and ODM businesses.
The Board believes that the two potential investments will allow the company to expand its new operations to multiple platforms, including epitaxial wafers and various LED lighting technologies.
In addition, the company intends to acquire all the issued shares of Lianguan and Arbo International, and the two companies may hold a 42% stake in Konka Lighting in the future. Konka Lighting focuses on commercial lighting, industrial lighting and public lighting products. The two transaction considerations are pending.
Yingrui Optoelectronics is a high-tech company engaged in the design, research and development and manufacturing of LED and related industry chains. As a leading enterprise undertaking the development project of Shanghai's optoelectronic industry, it has the full support of the Shanghai Municipal Government.
In addition, E-KONG entered into a list of non-legally binding terms and plans to acquire a 42% interest in Kangjia Lighting from an independent third party vendor, depending on the execution of the final agreement, and the company paid a refundable deposit of RMB 12.5 million. Konka Lighting focuses on commercial lighting, industrial lighting and public lighting products, and is suitable for project-based and wholesaler-based customers. At present, Konka Lighting's business is spread across the EU, North America, South America, Australia and other regions through its branded OEM and ODM businesses.
The Board believes that the two potential investments will allow the company to expand its new operations to multiple platforms, including epitaxial wafers and various LED lighting technologies.
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