Too Dragon Illume Gives Move Even, Buy Equity At The Same Time, Increase Endowment Subsidiary Company At The Same Time

- Apr 23, 2019-

Tailong lighting action repeatedly, yesterday announced the 2018 annual report and the first quarter of 2019, at the same time, also announced the acquisition of minority shareholders of the holding subsidiary and capital increase for the holding subsidiary.


The proposed 850,000 yuan acquisition minority shareholder holds xiamen shiyuan 20% equity


According to the announcement, so dragon lighting and subsidiary shi yuan (xiamen) lighting technology co., LTD. (hereinafter referred to as "xiamen shi yuan") minority shareholders Zhu Chunli signed the "equity transfer agreement" (hereinafter referred to as the "agreement"), the company employs 851900 yuan cash acquisition of minority shareholders Zhu Chunli hold the equity of 20% of xiamen shi yuan.


Data shows that xiamen shi yuan mainly engaged in lighting, decorative goods wholesale;

Retail of lamps and lanterns;

Software development;

Information system integration services;

Information technology consulting services;

Energy conservation technology popularization service;

Contract energy management.


Prior to the transaction, the company held 80% of xiamen shiyuan and zhu chunli held 20% of xiamen shiyuan.

After the completion of the transaction, the company holds xiamen shiyuan 100% equity.


Tailong lighting said that after the completion of this transaction, the company has strengthened the control and management of its subsidiary xiamen shiyuan, which is conducive to improving the company's profitability and playing a positive role in the company's future financial situation and operating results.

At present, the company is in good financial condition, and this transaction will not have a significant impact on the company's financial situation and operating results.

After the completion of this transaction, the equity held by the company will be increased from 80% to 100%, which will not cause any change in the scope of the company's consolidated statement.


Plan to increase the investment to yue sen lighting with 12 million yuan


In addition, tailong lighting intends to increase the capital and share of yuesen lighting technology (Shanghai) co., LTD. (hereinafter referred to as "yuesen lighting"), the holding subsidiary.


According to the announcement, yuesen lighting intends to increase the registered capital, including shareholders to increase the registered capital with undistributed profits, and tai long lighting to increase the investment in yuesen lighting with 12 million yuan.

After the completion of the capital increase, yuesen lighting registered capital of 11 million yuan, the company holds 72.73% of its equity.

According to the data, the net profit of yuesen lighting in 2018 reached 8.1264 million yuan, and the average annual compound growth rate of operating income and net profit from 2016 to 2018 was 48.40% and 77.89% respectively.


Tailong lighting increased its capital contribution to yuesen lighting with 12 million yuan of monetary capital, and the capital increase price was 12 yuan/registered capital, among which 1 million yuan was included in yuesen lighting's registered capital and 11 million yuan was included in yuesen lighting's capital reserve.

Yuesen lighting other shareholders to give up the capital increase of the preemptive right.

After the completion of the capital increase, tailong lighting holds yuesen lighting total investment of 8 million yuan, the shareholding ratio of 72.73%.


Tailong said yuesen's existing capital was small, limiting its participation in bidding for some large projects and expansion of its business.

By increasing registered capital and company capital with undistributed profit, expanding capital scale is conducive to enhancing comprehensive competitiveness of yuesen lighting, promoting long-term healthy development of its main business and improving the overall profit level of the company.

After the completion of the capital increase, yuesen lighting is still a wholly owned subsidiary of the company