Great Wall Technology’s subsidiary, Shenzhen Kaifa Technology, has been aligned with Epistar JV Holding, Evertop (Fujian) Optoelectronics and Country Lighting to jointly set up a joint venture (JV) KFES Lighting Co., Ltd., which will engaged in the research, manufacture and sale of LED wafer, chips, source modules, light source and lighting with a registered capital of $120 million and total investment amount of $160 million.

It’s said that Great Wall Kaifa, Epistar, Evertop and Country Lighting will own 44%, 40%, 9% and 7% stakes, respectively, in the JV, by making a capital injection of $52.8 million, $48 million, $10.8 million and $8.4 million, individually.

The capital investment by Great Wall Kaifa will likely be funded by its internal resources. In addition, the registered capital of KFES will be contributed as capital injection by the JV parties in two stages in cash.