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Hua can to raise no more than 2.1 billion for Mini/Micro LED development and other projects
- Oct 16, 2018 -

Yesterday (14), Huacan Optronics issued a notice that in order to meet the capital needs of business development and enhance its capital strength and profitability, the company intends to issue shares in private. Raise no more than 2.099889 billion yuan for "white LED,Mini/Micro LED development and production line expansion project", "MEMS inertial sensor development and industrialization project", "vertical cavity surface emission laser chip (VCSEL) development and industrialization project" and replenish the current fund.

According to the announcement, the company's choice of securities to a specific target non-public issuance of shares. The types of shares issued are domestic-listed RMB common shares (A-shares) with face value of RMB 1. 00 yuan per share.

On the same day, Hua can Optoelectronic announced that the company recently received Yunnan Blue Crystal Technology Co., Ltd. (hereinafter referred to as "Yunnan Blue Crystal") of the cash dividend 300000000.00 yuan. Yunnan Blue Crystal is a wholly owned subsidiary of the company, which owns 100% shares of Yunnan Blue Crystal.

The company said the profit distribution would increase its parent's net profit in 2018, but would not increase the company's combined earnings for 2018, and therefore would not affect the overall operating performance of the company in 2018.

In addition, Hua can Optronics also disclosed the first three quarters of 2018 earnings increase announcement, the company expects to achieve a net profit of 476.83 million yuan to 539.07 million yuan to shareholders of listed companies from January 1, 2018 to September 30, 2018, up 28 to 45 yuan from 371.63 million yuan a year earlier. Of this total, the net profit attributable to shareholders of listed companies is expected to be 163.39 million yuan to 225.63 million yuan in the third quarter, up 55-45 yuan from 155.61 million yuan in the same period last year

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