Views:8 Author:Site Editor Publish Time: 2018-06-06 Origin:Site
According to related news, Grand Canyon Solar Lighting (Suzhou), a subsidiary of Grand Canyon Semiconductor Lighting Systems (Suzhou), will be listed on the Growth Enterprise Market of the Shenzhen Stock Exchange as early as 2020. It is reported that Grand Canyon Optoelectronics will submit an IPO application to China Securities Regulatory Commission in the first quarter of 2019.
China's LED landscape lighting market is strong Grand Canyon Photoelectric will be listed in China
The listing is expected to raise 250 million yuan (39.3 million US dollars), after listing, StrongLED's stake in the subsidiary will be reduced from 97% to 72%. The listing will help StrongLED get credit from the Bank of China.
StrongLED will issue a valued NT$300 million (US$10 million) worth of convertible bonds in Taiwan in July 2018, and will use these funds to upgrade R&D equipment and production equipment.
In order to cope with strong orders from China's LED landscape lighting, StrongLED added two SMT production lines at its Suzhou plant in eastern China from April to May 2018. In addition, StrongLED will also carry out an Industry 4.0 upgrade and plans to fully automate before the end of 2019. At present, the total value of orders received has reached RMB 250 million, and it is expected that the comprehensive income will reach RMB 500 million in 2018, a year-on-year increase of 62.9%.
Due to government promotion, China's LED landscape lighting market will continue to be strong in the next 4-5 years.