Guangzhou Iron and Steel Co., Ltd.: Guangzhou Guangri or 200 million yuan LED special government subsidies

[High-tech LED News] Guanggang (600894) announced on the evening of June 3, on June 3, the company received relevant documents and was informed that the company's major asset restructuring transaction object Guangzhou Guangri Group Co., Ltd. applied to the relevant government departments for 2012. The special subsidy for the second half of the year is not less than 100 million yuan. The special subsidy for the first half of 2013 is not less than 100 million yuan, which will be used to further develop the semiconductor lighting (LED) project of its controlled Guangzhou Guangri Co., Ltd. The above application is subject to the approval of relevant government departments and there is uncertainty.

The company's previously announced restructuring plan is that Guangzhou Guangri Group Co., Ltd. replaced the 91.91% equity of Guangzhou Guangri Co., Ltd. with its entire assets and liabilities, and the difference between the assets to be placed and the value of the assets to be disposed of. The company supplemented the Guangri Group with cash. At the same time, the company purchased 8.09% of the shares of Guangri Co., Ltd. from the non-public offering of shares of other shareholders of Guangri Co., Ltd., and the issue price was determined to be 7.14 yuan/share, and the total number of shares issued was 26.18 million shares.

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