June 04, 2020

Dongjing Electronics plans to invest 40 million yuan to increase its subsidiary Dongjing Optoelectronics Co., Ltd.

Zhejiang Dongjing Electronics Board of Directors reviewed the “Proposal on Capital Increase of Zhejiang Dongjing Optoelectronics Technology Co., Ltd., a wholly-owned subsidiary”, and agreed to increase the capital of RMB 40 million by Zhejiang Dongjing Optoelectronics Co., Ltd., a wholly-owned subsidiary, for the purpose of increasing the East. Crystal Optoelectronics registered capital. After the capital increase, the registered capital of Dongjing Optoelectronics was changed from RMB 80 million to RMB 120 million.

According to the provisions of the Articles of Association, this capital increase does not need to be submitted to the company's shareholders meeting for consideration. The transaction is a capital increase for wholly-owned subsidiaries and does not constitute a connected transaction, nor does it constitute a major asset restructuring as stipulated in the Measures for the Administration of Major Asset Restructuring of Listed Companies.

Dongjing Optoelectronics was established on March 16, 2011. Mainly engaged in the development, design, production and sales of electronic components, optoelectronic products, import and export of goods and technology. Dongjing Optoelectronics is still in the stage of equipment commissioning and installation, and 29 crystal growth furnaces have been put into trial production. The installation and commissioning of the cutting and polishing equipment was successfully implemented. In addition, the introduction of Russian and Ukrainian technical teams, sapphire crystal technology is basically mature. We have provided LED sapphire ingots and substrate samples for some customers in Taiwan, Korea and China, which are being tested and confirmed. As of December 31, 2011, the company's total assets were 229,130,439.74 yuan, in 2011, operating income was 52,307.69 yuan, and net profit was -1,994,108.56 yuan.

In addition, Dongjing Electronics also announced the partial change of the basic situation of non-public offering of raised funds investment projects. The company plans to reduce the scale of “160 million micro-precision SMD quartz crystal resonator production line construction projects” to 50 million. 10,000 yuan privately raised funds to increase capital wholly-owned subsidiary Huang Shandong Jing Optoelectronics, for its implementation of "annual production of 2.75 million mm LED sapphire crystal rod construction project", the remaining funds continue to be used for the filling of the original project.

As of December 31, 2011, the annual production of 160 million miniature high-precision SMD quartz crystal resonator production line construction projects has invested a total of 77.093 million yuan, completing 42.83% of the progress. The total investment of the project is 39.68 million yuan (equipment investment is 25.43 million yuan, civil construction investment is 81.9 million yuan, land investment is 20 million yuan), of which bank financing is 250 million yuan, and the rest of the funds are raised by themselves.

The project will complete 63,000m 2 of sapphire crystal growth and crowbar production workshop, auxiliary building and other civil engineering projects, and purchase 157 sets of equipment such as sapphire crystal growth furnace (70KG), crowbar machine, cylindrical grinder, surface grinder and x-ray orientation instrument. Set, complete the production line construction. The construction period will be two years and will be completed in 2014. After the completion of the project, it will reach the annual production capacity of 2.75 million mm LED sapphire crystal rod. The product research and development focus is to meet the demand of 4 inch and 6 inch sapphire substrate wafer rods in the future market, achieving annual sales income of 316.5 million yuan and total profit of 6381. Ten thousand yuan.

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