In Order To Bring The Group Into Full Play, Crystal Electric Intends To Merge 4 Wholly Owned Subsidiaries.

- Nov 02, 2018-

Crystal Electric promotes a streamlined organizational structure. Yesterday (1) it decided to merge four 100% shareholding subsidiaries, Epistar JV Holding (BVI) Co., Ltd., UEC Investment Ltd., HUGA Holding (BVI) Limited and Bee Rich Corporation, with Epistar JV Holding (BVI) Co., Ltd. as a surviving company. The purpose of the merger is to give full play to the overall effectiveness of the group.——LED lighting

Jingdian said that the four companies are all 100% shareholding subsidiaries of Jingdian. In order to give full play to the synergy of the group, the subsidiaries merged under the joint control of Jingdian in accordance with the relevant laws of the British Virgin Islands. The nature of the merger was organizational adjustment within the group, which had no impact on the consolidated financial statements and shareholders'rights and interests.——LED lighting

Jingdian said that the original investment cost of the three elimination companies totaled $236,623,982, and the new shares of Epistar JV Holding (BVI) Co., Ltd. with a face value of $10,000 per share totaled 23,662 shares to Jingdian, the sole legal shareholder of the three elimination companies, of which 6,730 shares were issued by UEC Investment Ltd. and 6,730 shares were issued by HUGA Holding (BVI) Li. There are 2,785 new shares in mited and 14,147 new shares in Bee Rich Corporation. The four in one case came into effect yesterday.——LED lighting

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