Starlight Co., Ltd. plans to invest 30 million yuan to develop distributed photovoltaic power station business across borders

On November 10, Starlight Shares (formerly known as "Xue Laite") announced that its wholly-owned subsidiary Guangdong Starlight Development Holdings Co., Ltd., based on the company's overall business plan and business development needs, plans to invest RMB 30 million to establish Guangdong Starlight Energy Development Co., Ltd. (hereinafter referred to as "Starlight Energy").

Announcement documents show that Starlight Energy is registered in Nanhai District, Foshan City. The company has a registered capital of 30 million yuan and its legal representative is Zhang Taohua. The company's business scope includes: power generation business, power transmission business, power supply (distribution) business; construction projects; installation, maintenance and testing of power transmission, power supply and power receiving power facilities; power supply business; solar power generation technical services; photovoltaic equipment and component sales; photovoltaic power generation equipment leasing; photovoltaic equipment and component manufacturing, etc.

Starlight Shares stated that Starlight Energy is mainly engaged in the investment, development and operation and maintenance services of distributed photovoltaic power station projects. The company has conducted detailed demonstrations and preliminary preparations for photovoltaic power generation-related businesses. This investment is a prudent decision made by the company based on its overall business planning and operating needs. Photovoltaic power generation projects have good market development prospects and economic benefits. This investment will help the company further expand its business scale and improve profitability, and will have a positive impact on the company's operations to achieve long-term and healthy development of the company in the future.

Information shows that Xingguang Shares, formerly known as Xuelite, was founded in 1992 and listed on the small and medium-sized enterprises section of the Shenzhen Stock Exchange in 2006. The company's main business is UV disinfection, LED lighting, automotive lighting, and lithium battery production equipment. Due to poor financial conditions, Starlight Shares was issued a "delisting risk warning" by the Shenzhen Stock Exchange in 2019. After planned reorganization, in April this year, Starlight Shares successfully removed the "delisting risk warning".

In 2022, Starlight Co., Ltd. achieved revenue of 156 million yuan, a year-on-year increase of 0.43%; net profit attributable to the parent company was 25 million yuan, a year-on-year increase of 114.21%. The company's net assets turned from negative to positive. In the first three quarters of 2023, Starlight Co., Ltd. achieved revenue of 103 million yuan, a year-on-year increase of 9.44%.

It is worth noting that due to the fierce competition in the LED market in recent years and the rapid rise of the photovoltaic energy storage market, LED companies have deployed cross-border energy storage businesses to enrich their development capabilities. In addition to the cross-border layout of the photovoltaic business of Starlight Co., Ltd., LED companies such as Absen, Mulinsen, Inventronics, Halsey, Overclocking Three, Songsheng Co., Ltd., Maoshuo Power Supply, Aike Co., Ltd., Guangpu Co., Ltd., Baoming Technology, Igor, Azure Lithium Core, Wanrun Technology, Jiuliang Co., Ltd. have also entered the photovoltaic energy storage track one after another, creating more for the future development of the company. opportunities.