NVC intends to 900 million acquisition of Yi Xun photoelectric 100% stake, to accelerate the transformation and business development

Yesterday (25), NVC (hereinafter referred to as "the company") announced that the company in April 25, 2018 with the Jadestone China High-technology Industry Investment Fund LP (hereinafter referred to as "Jadestone") entered into a legally binding agreement program, the company intends to acquire Yi Xun to Jadestone to 900 million yuan (Hongkong) photoelectric science Technology Company Limited (hereinafter referred to as "Yi Xun") 100% stake.

According to the announcement, Elec-Tech in December 2016, sold all the shares to the Yi Xun Jadestone to 190 million yuan, Jadestone also agreed to repay outstanding Elec-Tech Yi Xun and its Affiliated Companies about 377 million yuan of debt.

It is reported that Yi Xun was founded in May 31, 2010, the main business involves LED lighting product design, manufacturing and sales to the North American market. Headquartered in Hongkong, Chicago and Atlanta offices are located in the United States, Zhuhai, and Chinese plant are located at Wuhu. Since its establishment in 2010, manufacturing and sales of lighting products design, Yi Xun has focused on the North American market for about six years, and has been with large retailers and distributors (such as Home Depot, Rexel and Graybar) to establish long-term cooperative relationship.

NVC said that in the past two years, as part of the metal raw materials, components and labor costs continue to rise, lighting products manufacturing enterprises profit is due to compression. In order to enhance the core competitiveness and achieve sustainable development, in 2018 developed a gradual transition from manufacturing enterprises to channel enterprise strategy. In addition, the company is expanding to Europe, the Middle East, Southeast Asia and South America and other international markets.

LED more information, please click on the LED network or the WeChat public account (cnledw2013).