Ocean Wang Zhaoming intends to invest 550 million yuan capital increase of two item company

The sea king in November 24, 2014 announcement, the company disclosed in the October 22, 2014 "IPO prospectus", the company to raise funds for investment projects by the wholly owned subsidiary of ocean King lighting technology (Dongguan) Co. Ltd and Shenzhen Wang Zhaoming Marine Engineering Co. is responsible for the implementation of investment projects, the estimated total investment of 550 million 441 thousand and 100 yuan, of which 398 million 805 thousand and 900 yuan by the to raise funds, other funding gap by the company to resolve financing through other channels or funds etc..

It is understood that the king of Dongguan marine company's main research and development, production and sales of lamps, light source controller, products, goods import and export business, the first three quarters of 2014 the company achieved operating income of 0 yuan, net profit -262.36 million. Shenzhen city Wang Zhaoming Marine Engineering Co. Ltd. the main lighting technology development, production, sales, leasing, lighting design, lighting, lighting equipment, lighting system installation and technical services, city and road lighting engineering contracting business, import and export business, the first three quarters of 2014 the company achieved operating income of 593 million 203 thousand and 500 yuan net profit of 32 million 648 thousand and 400 yuan.

The company's IPO total net funds raised 398 million 41 thousand and 600 yuan, 242 million 822 thousand and 100 yuan of which intends to "production line construction project investment, investment in the construction of" project "research and development center to 104 million 719 thousand and 500 yuan, investment for the funds for the project implementation of the main ocean king Dongguan, the implementation of the capital increase, a total investment of 347 million 541 thousand and 600 yuan, all included in the registered capital. After the completion of the capital increase, ocean king Dongguan registered capital of 10 million yuan increased to $357 million 541 thousand and 600, is still a wholly owned subsidiary of the company.

In addition, intends to raise funds in the 50 million 500 thousand yuan of "expansion project" domestic marketing center for investment, investment in the funds for the project implementation of the main lighting engineering company, the implementation of the capital increase, a total investment of 50 million 500 thousand yuan, all included in the registered capital. After the completion of the capital increase, the registered capital of lighting engineering company increased from 50 million yuan to $100 million 500 thousand, is still a wholly owned subsidiary of the company.

The company of the two item company capital investment projects designed to meet the company's equity capital requirements, accelerate the construction and implementation of equity investment projects; help to improve the company's capital strength, anti risk ability and the ability of sustainable development, in order to achieve the overall strategic objectives of the company.

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