Alto Electronics has increased its capital by RMB 60 million and has signed a new project order of 258 million yuan in the first three months.
On April 26, Alto Electronics announced that the company used a portion of the raised funds to increase its capital of RMB 090,013,300 to its wholly-owned subsidiary, Shenzhen Qianbaihui Lighting Engineering Co., Ltd. (hereinafter referred to as “Qianbaihuiâ€).
After the completion of this capital increase, the registered capital of Qianbaihui will increase from RMB 51.30 million to RMB 106.00 million. The shareholding structure will not change and the company will still hold 100% of its equity.
The company's use of raised funds to increase the capital of the wholly-owned subsidiary Qianbaihui is based on the implementation arrangements of the company's non-public offerings regarding the use of raised funds. This capital increase will help promote the construction of fund-raising investment projects. It is conducive to improving the efficiency of the use of raised funds, in line with the company's development strategy, in line with the interests of the company and all shareholders.
In recent years, companies with lighting engineering as their main business have increasingly “flushed†into the capital market. They either choose to go public separately, or are acquired by listed companies and are involved in the capital market, or they are listed separately in the new three boards. In order to gain more capital favor.
In 2016, Alto Electronics carried out a major asset restructuring and acquired Shenzhen Qianbaihui Lighting Engineering Co., Ltd. with a consideration of RMB 300 million.
The acquisition of Qianbaihui can provide strong support for the expansion of Alto's LED application products in the market areas such as urban landscape lighting and stadium renovation, so as to quickly enter the field of smart lighting engineering, which will help expand the scale of the company's LED application and sports business. .
Qianbaihui has accumulated rich channels and customer resources in the construction, design and other related markets of urban landscape lighting projects. It has “Qualification for Urban and Road Lighting Projectsâ€, “Special Qualification for Grade A Lighting Design†and “Building Electrical and Mechanical Installation Engineeringâ€. Professional contracting three-level qualifications and "electronic and intelligent engineering professional contracting secondary qualifications."
Qianbaihui has successively implemented many urban landscape lighting projects such as Wanda Plaza and Theme Park, Shenzhen Nanshan Central District, Wuhan Hanxiu Theater, Beijing Lucheng Athlete Training Center and Beijing Xiannongtan Tennis Hall. The data shows that in the first three months of this year, the amount of contracts signed by Qianbaihui has reached 258 million yuan.
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