Starlight Co., Ltd. plans to acquire Ruifeng Technology to develop businesses such as cultural tourism and stage lighting.

On March 27, Starlight announced that it had signed an "Acquisition Intention Agreement" with Guangzhou Ruifeng Audio Technology Co., Ltd. ("Ruifeng Technology") and its controlling shareholder Wang Ruixiang. The company plans to acquire part of the equity or assets of Ruifeng Technology with its own and self-raised funds.

Xingguang Shares stated that this acquisition will help the two parties complement each other's advantageous resources, improve the company's industrial layout, expand business areas, and promote the company's rapid development in cultural tourism commercial lighting, stage lighting, urban lighting projects and other businesses.

Information shows that Ruifeng Technology is an innovative private enterprise in the cultural, technological and performing arts industry. It was established in 2001 with a registered capital of 90 million yuan. The company takes "cultural technology + sports" as its development strategy, and its business covers four major areas: product manufacturing, cultural performing arts, innovative cultural tourism, and sports operations.

Ruifeng Technology has rich project resources and operational experience in program planning, hardware supply and organizational services for large-scale events. It has participated in many influential and well-known event projects such as the opening ceremony of the 31st Summer Universiade in 2023 and the Guangzhou International Lighting Festival.

Xingguang Co., Ltd. was formerly known as Xuelite. The company's main business is UV disinfection, LED lighting, automotive lighting, and lithium battery production equipment. Previously, Starlight's LED lighting mainly included LED indoor lighting, classroom lights, LED outdoor lighting and smart lighting. Products are widely used in home lighting, classroom lighting, and commercial lighting fields. With the completion of subsequent acquisition projects, Starlight's LED lighting business will expand to cultural tourism, stage, urban lighting and other fields.

In 2023, Starlight Shares is expected to suffer losses due to losses from changes in the fair value of investment real estate and other reasons.