Wei Shares Intends To Cancel LED New Lighting Subsidiary Fujian Jiawei

- Aug 30, 2018-

Earlier today, Jiawei shares announced that the company's board of directors at the 30th meeting held on August 29, 2008 to consider and adopt the "Proposal to cancel the holding subsidiary company." The company intends to cancel its holding subsidiary Fujian Jiawei Optoelectronic Co., Ltd. (hereinafter referred to as "Fujian Jiawei"), and authorize the management of the company to handle the relevant liquidation and cancellation matters according to law.——LED lighting

According to the announcement, Fujian Jiawei mainly manages the R & D, production and sales of new LED lighting products. In the first half of 2018, the total assets of Fujian Jiawei amounted to 115 million 816 thousand and 700 yuan, and net profit loss was 33 thousand yuan.——LED lighting

According to the company's actual operating conditions and follow-up business development plan, Jiawei decided to cancel its holding subsidiary, Fujian Jiawei, in order to optimize the allocation of resources, streamline organizational structure, reduce management costs and improve operational management efficiency. It helps to reduce management costs and improve management efficiency. After the cancellation, the scope of the company's consolidated financial statements will change accordingly. Fujian Jiawei will no longer be included in the scope of the consolidation, but it will not have a greater impact on the overall business development and profitability of the company, there is no harm to the interests of listed companies and shareholders.——LED lighting

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