Mongolia Investment Initially Pays 40 Million Yuan for Purchase of LED Items

Mongolia Investment Initially Pays 40 Million Yuan for Purchase of LED Items A few days ago, Mongolia Investment announced the acquisition of LED business in the Mainland. The company's board of directors is satisfied with the preliminary results of due diligence on the Target Group and other related issues. The payment of RMB 40 million (payment as deposit and partial consideration) was paid to the seller Zhao Yongli on December 12. Completion of the acquisition is subject to the fulfillment of the conditions set out in the acquisition agreement and the acquisition may not proceed.

At the end of last month, the company announced that it had indirectly acquired 55% equity of Shengqi Optoelectronics for 264 million yuan. The company mainly researches, manufactures and processes LED products in China.

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