Channel war KingSun intends 300 million acquisition of three companies

Last week, the temporary suspension of the KingSun (002638) today (9) announcement that the company recently jointly with Shenzhen juchuang Technology Development Co., Ltd. of Zhongshan city called Shenzhen Vantown such shareholders of the Limited by Share Ltd reached a preliminary intention of Lighting Co. Ltd., 3 companies, the proposed acquisition of 51% equity interest, and signed the "letter of intent to acquire equity". There is no correlation between the acquisition of the subject matter and the listed companies. Company's shares will resume trading today.

KingSun said, through the preliminary planning and accounting, to be not more than the corresponding shares of its own funds to purchase 300 million yuan above the standard.

KingSun this proposed 3 company mergers and acquisitions, business scope involves LED lamps or energy-saving products sales, in order to integrate downstream sales channels is very evident. Among them, the main lamps, household appliances sales of Zhongshan shouting lighting, although the registered capital of only 1 million yuan, but the company's operating income of 1-10 months this year has reached as high as $275 million.

KingSun secretaries segment casting said that this acquisition will help strengthen the industrial chain, forming better synergies, expand market share in the field.

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