Riyadh subsidiary capital products will hold its 55% stake

Riyadh's announcement that a wholly owned subsidiary of investment and product to the shareholders of Primo Lite photoelectric (BVI) Ltd. and the Shenzhen City Department of King investment partnership recently signed a "capital agreement", Liyade investment intends to own funds 342211.16 yuan transferee Primo Lite (BVI) Ltd. to transfer its holdings of 342211.16 yuan for photoelectric equity, and intends to subscribe to 27157789.26 yuan for photoelectric new registered capital of 27157789.26 yuan, and the completion of the subscription, Liyade investment will hold 55% stake in photoelectric products.

Can optical was established in October 2002, registered capital of 10497761.07 yuan, mainly the production of LED lamp, controller, electronic transformer, electronic ballast, trigger, electronic ballast, lighting electrical appliances and accessories, nano and related products, solar cell packaging and application, plastic products and related mold etc.. As of April 30, 2015, the total value of goods can be audited by the photoelectric 12 million 946 thousand and 700 yuan, total liabilities of $2 million 946 thousand and 700, net assets of $10 million, undistributed profit of -49.78 million.

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