Disclosed today, the company intends to establish “Yangzhou Dehao Runda Optoelectronics Technology Co., Ltd.†in Yangzhou City through its subsidiary Dehao Runda International (Hong Kong) Co., Ltd., with a registered capital of no more than US$45 million, and investment in two phases. The capital contribution does not exceed US$25 million.
Dehao Runda believes that the establishment of the Yangzhou subsidiary is based on the need to cooperate with the industry of the Wuhu project, thereby further realizing the company's industrial layout in the LED industry. The company invested in the establishment of the Yangzhou subsidiary to operate the MOCVD (Metal Organic Source Chemical Vapor Deposition) equipment project. The MOCVD equipment is used to produce LED epitaxial wafers. It is a core project closely matched with the LED chip project.
According to the relevant regulations of the “Management Rules for the Management of MOCVD Equipment Purchase Subsidy for the Production of LED Epitaxial Wafers in Yangzhou City†promulgated by the Yangzhou Municipal Government of Jiangsu Province in August 2009, Yangzhou Subsidiary is expected to obtain Yangzhou when it purchases more than 5 imported MOCVD equipment. The municipal government has granted RMB 8 million/Taiwan (MOCVD) or 10 million/Taiwan (MOCVD) subsidies. The above preferential policies will effectively reduce the investment cost and investment risk of the company's LED epitaxial wafer project.
The company said that the proposed new company will serve as a platform for the company to carry out LED business and has broad market prospects. At present, the company's holding subsidiaries Guangdong Jianlong Optoelectronics Technology Co., Ltd. and Shenzhen Ruituo Display Technology Co., Ltd. are both in the LED industry. The company has certain industry experience, and the risk of production and operation of new companies in the future is within the controllable range.
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