In the morning of this morning, NVC Lighting (hereinafter referred to as the company) announced that the company entered into a sale and purchase agreement with Hong Kong Luoman International Co., Ltd. on March 16, 2018, pursuant to which the company will acquire a 40% stake in Hong Kong Weilan Core Light Trading Co., Ltd. The value is RMB 315 million. In the morning of this morning, NVC Lighting (hereinafter referred to as the company) announced that the company entered into a sale and purchase agreement with Hong Kong Luoman International Co., Ltd. on March 16, 2018, pursuant to which the company will acquire a 40% stake in Hong Kong Weilan Core Light Trading Co., Ltd. The value is RMB 315 million. According to the announcement, as at the date of this announcement, Hong Kong Weilan Core Light Trade indirectly holds an 85% stake in Wuhu NVC, while the company indirectly holds a 10% stake in Wuhu NVC. After the settlement, the company will hold a 40% stake in Hong Kong Weilan Core Light Trading and indirectly hold a 44% stake in Wuhu NVC. It is reported that the main business activities of Hong Kong Luoman International Co., Ltd. include the trade and investment of lamps, lighting fittings and LED lighting products. The business activities of Hong Kong Weilan Core Light Trading Co., Ltd. include investment holding, lighting, LED, home appliance design and development, communication promotion, technical consultation and international trade. In addition, the company is principally engaged in the sale and distribution of lighting products through e-commerce platforms and distribution channels. NVC Lighting said that in the past two years, due to the continuous rise of some metal raw materials, components and labor costs, 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.
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