Xingliang Holdings officially entered the LED market

   Xingliang Holdings acquired the target company's 3.5714 million Series B preferred shares to the major shareholder SSCP for US$1.5 million and officially entered the LED market.

Xingliang Holdings (00955) announced that it officially entered the LED market. The company acquired Inlustra Technologies, Inc. (target company) 3.5714 million shares B to the major shareholder SSCP for US$1.5 million (approximately HK$1,162.50 million). The shares are equivalent to 74.52% of the total number of issued Series B Preferred Shares and 22.87% of the total number of issued Ordinary Shares.

Xingliang pointed out that because the target company has the technology and products of the basic gallium nitride (Gallium Nitride)-related reactants for LED production technology, the directors believe that the Group's investment in the target company will enable its customers to use the electrical insulation products related customer base. The market for the target company's products and the ability to market related products, especially in Europe and Asia.

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