Honglitronic: spend 10 million to build 300 acres of Nanchang LED industry base

Honglitronic September 5th evening announcement, the company intends to sign the "investment agreement" in Jiangxi city of Nanchang province to invest in the construction of LED industry base and the matters second session of the sixteenth meeting of the board of directors for consideration by the.

The company plans to raise funds in the Jiangxi province Nanchang City Airport Economic Zone Management Committee Park, has 300 acres of land to invest in LED industry base, and set aside 300 acres for a period of three years, the project plans to invest 1 billion 9 million yuan. The base of the main R & D, production and sales of LED packaging devices and LED lighting applications.

The company intends to set up a wholly owned subsidiary of Jiangxi Hongli photoelectric Co. Ltd., Jiangxi Hongli responsible by over 300 acres of land use rights, plant construction and some LED product sales, Nanchang LED industry base in the rest of the LED products production and sales business relocation or the establishment of a subsidiary implemented by the subsidiary. Jiangxi Hongli registered capital of 100 million yuan, honglitronic to self financing investment.

Nanchang LED industry base construction area of about 200 thousand square meters, the company plans to invest 1 billion 9 million yuan, a construction area of about 100 thousand square meters, the main base for the development, production and sales of LED package and LED lighting application products, product applications include general lighting, backlighting, automotive lighting, special lighting, signal / display etc.. The project is fully put into production, annual production capacity of LED devices is about 16200KK (with 3014 single core is estimated to represent capacity), LED with an annual capacity of about 90 million PCS (with LED bulb is estimated to represent capacity), the total annual output value of 1 billion 584 million yuan. The future of the base will become the company in addition to the existing base in Guangzhou, the only leading business development center and production base.

Completion of the project is expected to achieve an average annual operating income of 1 billion 584 million yuan, an average annual net profit of up to $109 million.

Honglitronic said, the implementation of the project will further expand its LED production scale, ease cost pressures facing the company, enhance the company's overall competitiveness and profitability, achieve sustainable and healthy development of the company, in line with the company's long-term development strategy.

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