Focusing on its main advantageous business, Xingguang Co., Ltd. terminates the acquisition of assets of the "Construction Cost Pass" platform

On June 24, Starlight Co., Ltd. announced that the company had signed a supplementary agreement to the "Joint Venture Agreement" with Guangdong China Construction Pulian Technology Co., Ltd. (hereinafter referred to as "China Construction Pulian") on June 23, and decided to terminate the acquisition of the "Construction Cost Tong" platform assets and related business cooperation matters.

In March this year, Starlight Co., Ltd. signed a "Joint Venture Agreement" with China Construction Pulian, and its wholly-owned subsidiary Guangdong Starlight Big Data Co., Ltd. and China Construction Pulian jointly established "Starlight Pulian (Guangdong) Big Data Co., Ltd." with a registered capital of 60 million yuan. According to the agreement, the joint venture originally planned to acquire assets related to the "Cost Management" platform owned by China Construction Pulian.

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China Construction Pulian was established in 2004 and focuses on applying big data and artificial intelligence to urban construction and intelligent management services. Among them, "Construction Cost Communication" is its core business asset. Its massive data can provide big data services and solutions for engineering management, decision-making, implementation and urban construction projects. It can also use artificial intelligence to complete historical data collection, analysis, desensitization, classification, analysis and intelligent coding of the cured data into the database to provide support for data analysis and decision-making.

Starlight Co., Ltd. is mainly engaged in LED lighting, UV disinfection, automotive lighting, lithium battery equipment and information system integration. The company continues to promote the upgrading of smart lighting technology, focusing on the development of markets such as smart lighting, automotive lights, UV disinfection, agricultural lighting, and beauty and health lighting. Its "Jinbaili" smart home system covers a full range of smart lighting products for home and business.

Although after the establishment of the joint venture, the two parties actively promoted matters related to the acquisition of "Cost Tong", but due to differences in aspects such as asset independence, business divestiture, and financial auditing, the transaction conditions were never able to reach an agreement. In the end, after careful evaluation and friendly negotiation, both parties decided to terminate this transaction and cooperation.

Starlight Shares stated that the termination of this transaction was a decision made by the company after careful review and friendly consultations with all parties. The company will subsequently focus on its main business with resource development advantages to ensure the sustainable and healthy development of the business. (Compiled by LEDinside)

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