NVC Lighting plans to acquire LED lighting business to open up North American market

It is understood that Yi Xun is a company incorporated in Hong Kong on May 31, 2010. Its main business involves the design, manufacture and sale of LED lighting products to the North American market. Headquartered in Hong Kong, the offices are located in Chicago and Atlanta, USA, and the factories are located in Zhuhai and Wuhu, China. On April 25, NVC Lighting announced that the company had entered into an agreement with Jadestone on April 25, 2018. The company intends to acquire Yexun (Hong Kong) Optoelectronics Technology Co., Ltd. from Jadestone for RMB 900 million (hereinafter referred to as Yi Xun) 100% equity. The terms of the agreement contain the basic terms and conditions of the proposed acquisition agreement and will be subject to the signing of the formal share purchase agreement. Upon completion, the Target Group will become a wholly-owned subsidiary of the Company. It is understood that Yi Xun is a company incorporated in Hong Kong on May 31, 2010. Its main business involves the design, manufacture and sale of LED lighting products to the North American market. Headquartered in Hong Kong, the offices are located in Chicago and Atlanta, USA, and the factories are located in Zhuhai and Wuhu, China. Before the transaction, Yixun was wholly owned by Dehao Runda. Dehao Runda is a major shareholder of NVC Lighting and holds a 24.30% interest in NVC Lighting. DHL Runda is principally engaged in the production and sales of small household appliances and LED products in the PRC. In December 2016, DeHao Runda sold the entire interests of the Target Company (several transactions) to Jadestone at a cash consideration of RMB190,000,000. Jadestone also agreed to repay the debts owed by the Target Company to Dehao Runda and its subsidiaries amounting to RMB377 million. Past transactions were completed on December 30, 2016. NVC Lighting is committed to providing energy efficient, healthy and comfortable lighting environments and lighting solutions for construction, transportation, urban lighting, commercial, hospitality, office, home, industrial and other fields. In the past two years, as some metal raw materials, components and labor costs continue to rise, the profit margin of lighting products manufacturers has been compressed. In order to enhance its core competitiveness and achieve sustainable development, the company has formulated a strategy of gradually transforming from manufacturing to channel-based enterprises in 2018. In addition, the company is expanding its business to international markets such as Europe, the Middle East, Southeast Asia and South America. Since its inception in 2010, Yixun has been designing, manufacturing and selling lighting products for the North American market for about six years and has established long-term relationships with major retailers and distributors such as HomeDepot, Rexel and Graybar. In particular, Yi Xun has been awarded the title of HomeDepot's Global Supplier of the Year for four consecutive years. The lighting market in North America is huge, and NVC Lighting has always wanted to enter this market. However, to enter this market, you need to have a local operating team, have a deep understanding of the local market conditions, and make long-term capital and labor investment. The above needs to limit the expansion of NVC lighting. The acquisition will help NVC Lighting enter the North American market and increase its overseas sales. In addition, NVC Lighting can also learn from the successful experience and feasible business model of the Yixun management team when establishing business in other overseas markets.

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