The subsidiary of Zhaochi Co., Ltd. plans to restructure and land on the new three board

Zhaochi shares (002429) announced on Wednesday that the company's wholly-owned subsidiary Shenzhen Zhaochi Energy-saving Lighting Co., Ltd. (hereinafter referred to as "energy-saving lighting") plans to start restructuring and set up a joint stock limited company and apply for listing in the national small and medium-sized enterprise share transfer system.

Energy-saving lighting is mainly engaged in the technology development, production and sales of LED products. As of the end of 2014, its total assets were 1.035 billion yuan, net assets were 122 million yuan, and net profit for 2014 was 33.78 million yuan.

Zhaochi said that after the energy-saving lighting is restructured into a joint stock limited company, it will fully promote the application for listing in the New Third Board. This move will help the energy-saving lighting company to further improve the corporate governance structure, improve the management level, improve the incentive mechanism, and stabilize and attract Excellent talents to enhance core competitiveness.

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