Set Up A Subsidiary, Igor Headed For The Smart Home Area.

- Sep 09, 2018-

In order to expand the sales channels of smart home products, develop new business models and improve the distribution network layout, Igor (002922) announced on August 16, 2018 that the company intends to use its own funds to set up a new wholly-owned subsidiary company in Nanhai District, Foshan City, Igor headquarters to build Igor e-commerce platform and develop the network sales industry. Business.——LED intelligent lighting


According to the information, Igor's proposed wholly-owned subsidiary company is tentatively named "Igor E-commerce Limited Company", with a registered capital of RMB 10 million, all of which are funded by Igor, mainly engaged in research and development, design and online sales of smart home products.——LED intelligent lighting


Igor, whose main business is transformer, power supply and lighting products, why choose to enter the field of smart home at this time? As we all know, the competition in lighting power supply industry is very fierce, not only the brand is many, but also the quality and price gap is very big. In the fierce competition environment, Igor actively extended to the direction of intelligent control, which is highly consistent with the development direction of smart home. Therefore, cutting into the smart home field is also Igor's choice for future development.——LED intelligent lighting


It is understood that Igor's research and development of intelligent control power products have been applied to the field of smart home products, including lamps, bathroom appliances, intelligent sockets and so on. Next, Igor plans to develop, design and sell smart home products based on its own smart power products and technologies around smart terminal products such as Skycat Elves.——LED intelligent lighting


However, it is noteworthy that there is a big difference between the smart home products and online sales model and Igor's original products and business model. Consumer products are upgraded quickly and the life cycle is short. The new subsidiary may face product and technology research and development, management, market and internal control in the follow-up business process. Surface risk.——LED intelligent lighting


In view of the above problems, Igor indicated that he would strengthen the operation management, the establishment of internal control system and the project risk management of the subsidiary company, enhance the management level of the subsidiary company, make use of its own resource advantages, and give full play to the overall business synergy of the company to promote the healthy development of the subsidiary company.——LED intelligent lighting


On September 7, Igor announced that the company had recently completed the registration of wholly-owned subsidiaries and obtained the "Business License" issued by Foshan Shunde District Market Supervision and Administration Bureau, eventually named Guangdong Igor Electronic Commerce Co., Ltd.


According to Hi-Tech LED observation, on August 16, 2018, Igor announced his intention to set up a wholly-owned subsidiary, but also announced his decision to increase the capital of the wholly-owned subsidiary of Ji'an Igor Electric Co., Ltd. (hereinafter referred to as "Ji'an Igor") with its own capital of 100 million yuan.——LED intelligent lighting


According to the data show that the main business scope of Ji'an Igor transformers and components (including iron core, box), power products and lamps and lanterns product development, production and sales. After the capital increase, the registered capital of Ji'an Igor will increase from the current 20 million yuan to 120 million yuan, Igor holds 100% of its equity. According to financial data, as of June 30, 2018, Ji'an Igor had a total assets of 340 million yuan, net assets of 68.3587 million yuan, operating income of 129 million yuan, net profit of 15.0984 million yuan.——LED intelligent lighting


Regarding the purpose of the capital increase, Igor said that it is mainly used to supplement the funds needed for the operation to meet the needs of the business development of Ji'an Igor. In addition, this capital increase belongs to the wholly-owned subsidiary, the risk is small, is conducive to its enhanced competitiveness, enhance Igor's overall strength, in line with Igor's long-term development plan and the interests of all shareholders.——LED intelligent lighting


According to Igor's announcement today, Ji'an Igor has completed the registration procedure of industrial and commercial changes and obtained the "Business License" issued by Ji'an County Market and Quality Supervision and Administration.——LED intelligent lighting


Overall, with the overall situation of the LED industry has been set, the market concentration continues to improve, for the LED listed enterprises, capital operation has become the main means of operation, but also become the driving force behind industrial integration. The same is true of Igor, through the establishment of subsidiaries, wholly-owned subsidiaries to increase capital, and other ways to expand the size of subsidiaries, but also to enhance their overall competitiveness and profitability.——LED intelligent lighting



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