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Beijing Cree's 16.5 million acquisition of Zhengzhou Kaixin 30 shares
Beijing Cree announced on the evening of March 9 that in order to further expand its power service business, the company intends to acquire the equity of Zhengzhou Kaixin Electric Co., Ltd. (hereinafter referred to as Zhengzhou Kaixin) 30 using no more than 16.5 million yuan of idle raised funds. According to the data, Zhengzhou Kaixin's new business scope is: construction of 110kV and below transmission lines (including wire projects) and substation projects of the same voltage level with a single contract amount not exceeding 5 times of the registered capital of the enterprise; urban squares and roads below 380V, Lighting project construction of highways, building facades and public green spaces (operating with qualification certificates); power technology consulting services. From the financial data point of view, Zhengzhou Kaixin achieved operating income of 58.119 million yuan in the first 11 months of 2014, and realized a net profit of 7.637 million yuan. Beijing Career said that the acquisition is a further exploration of the company's services such as power installation and power equipment maintenance services, which will help to further effectively extend the company's existing business and solve the localized after-sales service problems of the company's existing products. More value-added services lay the foundation.