On April 1, Kingsoft Technology Industry announced that the company's subsidiary GP Industry, an associate company with a 38.13% equity interest, Leading Industry, had signed an agreement with Weizhi Optoelectronics and Mr. Luo Zhongwei on March 31. According to the agreement, Leading Industries will acquire all the issued share capital of Yuanhui Optoelectronics at a price of HK$1.1 billion (approximately RMB 894 million).
Jinshan Technology Industry is an Asian multinational group. The company has a number of high-quality industrial investment projects mainly through GP Industry. It is reported that GP Industries is a listed company in Singapore. Currently, Kingsoft Technology Industry holds 85.59% of its shares.
Yuanhui Optoelectronics is mainly engaged in the development, manufacture and sale of LED lighting products and modules, and is currently committed to expanding new businesses of LED lighting products related to sustainable horticulture and smart cities.
On May 20, 2021, Kingsoft Technology Industry also announced that it had signed a master supply agreement with Yuanhui Optoelectronics. The agreement stipulates that in the daily business process of Kingsoft Technology Industry, Kingsoft Technology Industry agrees to: sell Class A products to Yuanhui Optoelectronics Group; purchase Class B products from Yuanhui Optoelectronics Group. The agreement is valid until March 31, 2024.
