Refond Optoelectronics Forms Joint Venture, Terminates Subsidiary

Refond Optoelectronics recently announced its board members approved two proposals including the termination of its subsidiary in Dongyuan city in Guangdong Province, China, and forming a joint venture with foreign investors.

To lower management costs, reduce management level employees, and improve the company’s management. The company stated it terminated subsidiary Rsee, which is based in Dongyuan, Guangdong Province of China.

Since Rsee never formally entered operations, it will have limited impact on Refond Optoelectronics revenue. The board approved cancelling the subsidiary and has acquired approval from board members, and no further board reviews will be required. The terminated subsidiary is not an affiliated trade transaction nor does it meet regulations for asset restructure under “Provisions on Issues Concerning Regulating the Material Asset Reorganizations of Listed Companies.”

Additionally, the board agreed to invest in a joint venture formed with nine other investors, the new company will be temporarily named Shenzhen Refond Laser Video Technology Company. The joint venture’s listed capital is RMB 5.95 million (US $890,000) with finance of RMB 1.17 million, and RMB 2 million set aside for equipment. The joint venture’s registered capital amounts to about 53.2%, while the nine investors provide the remaining 46.8% finance of RMB 2.78 million.

The joint investment was established with the aim to kick off new business models and partnership development in the laser end product market. The company is strengthening its market position in the light source sector to raise its profitability.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

XLamp® XP-L Photo Red S Line LEDs Deliver High Efficiency for Horticulture Applications Revolutionizing Horticulture Lighting with Cree LED Cree LED is committed to delivering innovative lighting solutions for horticulture and agriculture,... READ MORE

For most of history, humans used flames to generate light. Eventually, they discovered that a super-heated metal element in a light bulb could produce useful illumination, only for this technology to be superseded by the LED. One common featur... READ MORE