On the evening of September 4th, Ganzhao Optoelectronics issued the “Announcement on Capital Increase to Full-Funded Subsidiariesâ€. The announcement shows that in order to support the expansion demand of “red, yellow LED chips and triple-junction gallium arsenide solar cell projectsâ€, Xiamen Ganzhao Optoelectronics Co., Ltd. (hereinafter referred to as "the company") intends to increase its capital for its subsidiary Yangzhou Ganzhao Optoelectronics Co., Ltd. After the capital increase, the registered capital of the subsidiary will increase to 582 million yuan.
It is understood that the business scope of Yangzhou Dry Photoelectric Co., Ltd. is electronic industry technology research and consulting services; research and development, production, sales and technical services of optoelectronic products; installation and commissioning of system engineering for ultra-high brightness light-emitting diode (LED) application products. Maintenance; design, development, production and sales of epitaxial wafers and chips of gallium arsenide solar cells; self-operated and agent import and export business of various commodities and technologies (except for goods and technologies that are restricted by state-owned enterprises or prohibited from importing and exporting).
According to the announcement, Yangzhou Ganzhao Optoelectronics achieved revenue of 429,603,727.84 yuan and net profit of 67,732,651.95 yuan in 2016; revenue of 235,457,347.90 in the first half of 2017; net profit of 35,576,719.63 yuan.
According to Ganzhao Optoelectronics, through the capital increase, it is conducive to the expansion of “red, yellow LED chips and triple-junction gallium arsenide solar cell projectsâ€, and further enhance the overall operational capability and comprehensive competitiveness of the subsidiaries.
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